Gap’s Pandemic Pain Worse Than Expected
The troubled retailer said its online growth "leaves us well-positioned to fuel our brands going forward" but its shares sank 5.5%.
Gap Beats Estimates But Comp Sales Dip 4%
“We are not pleased with the third-quarter results and are focused on aggressively addressing operational issues," the struggling retailer says.
Gap Shares Dive on Old Navy Spinoff Doubts
The surprise resignation of CEO Art Peck has Wall Street "wondering whether the split could be delayed or abandoned altogether."
Gymboree To Sell Off Brands
The deals with Gap and The Children’s Place were disclosed in bankruptcy filings.
Gap to Spin off Old Navy, Keep Specialty Brands
"It’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time."
Gap’s Namesake Brand Weighs on Comp Sales
The retailer plans to focus on the "healthy core" of Gap specialty stores while exiting "those that do not fit the future vision quickly.”
Gap Revenue Tops Estimates, But Earnings Fall Short
The retailer affirmed full-year guidance and plans to open 60 Old Navy stores by the end of the year.
CFOs on the Move: Week Ending Nov. 18
CBS Radio, Gap, Sheppard Pratt, Zebra Tech., NRG Yield, Huntsman, Align Tech., AmWINS, NN, Miller Industries
CFOs on the Move: Week Ending Nov. 4
Hearst Television, Gap, ADT, USA Truck, Black Stone Minerals, CyrusOne, Exterran, General Cable, Nancy Buese, Rocket Fuel
Gap’s Credit Rating Downgraded to Junk
Fitch Ratings expresses doubts about Gap's cost-cutting strategy, saying earnings will fall this year even with $100 million in expense reduction.