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 Cancels Plan to Spin Off Old Navy
“The work we’ve done to prepare for the spin shone a bright light on operational inefficiencies and areas for improvement.”
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."
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.
Gap Worn Down By Declining Sales
The Gap announced it was closing 75 stores, including Old Navy Japan, as sales continue to plunge and profits dwindle.