Athleta news and archive

Gap registers positive Q3, lifts outlook

Gap’s third quarter net sales of 3.8 billion dollars were up 2 percent compared to last year and comparable sales were up 1 percent year-over-year. As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. "I'm proud that...

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Gap reports strong Q2, increases outlook

Gap net sales for the second quarter of 3.7 billion dollars were up 5 percent with comparable sales up 3 percent year-over-year. Increasing its gross margin and operating income outlook for the year ahead, the company said it expects FY24 operating income in the 50’s growth range and gross margin expansion of 200 bps. "In comparison to where we...

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Gap's turnaround plan boosts Q1 performance, raises outlook

First quarter net sales of 3.4 billion dollars at Gap were up 3 percent with comparable sales up 3 percent year-over-year. Store sales for the quarter increased 3 percent and online sales increased 5 percent. As a result of its strong first quarter results, the company is increasing its outlook for fiscal 2024, reflecting higher net sales and...

Gap reports positive fourth quarter results

Gap’s fourth quarter net sales of 4.3 billion dollars were up 1 percent, with comparable sales flat year-over-year. Net sales for the full year of 14.9 billion dollars were down 5 percent, while comparable sales down 2 percent. For the fiscal year 2024, the company forecasts net sales to remain flat, gross margin expansion of 50 basis points,...

Fashion

Athleta launches workout clothes for high-intensity exercise

US premium sports and activewear brand Athleta, part of Gap Inc., has launched a new women’s workout collection engineered with proprietary fabrics for high-intensity movement. Athleta, more known for its yoga and pilates clothing, has developed an eight-piece ‘Train’ collection to “empower women through their most intense workouts” as it looks...

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Gap forecasts flat holiday quarter ahead

Gap reported third quarter net sales of 3.8 billion dollars, down 7 percent compared to last year, inclusive of an estimated 2 percentage points negative impact from the sale of Gap China. Comparable sales for the quarter were down 2 percent. The company is estimating fourth quarter net sales to be flat to slightly negative compared to last year...

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Gap posts Q2 profit but sales decline 8 percent

Net sales at Gap Inc. of 3.55 billion dollars, were down 8 percent compared to last year, while comparable sales were down 6 percent. Reported net income was 117 million dollars; while reported diluted earnings per share were 32 cents. The company reported adjusted net income of 127 million dollars, and adjusted diluted earnings per share were...

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Gap appoints Richard Dickson as the company's new CEO

Gap Inc. with a portfolio that includes Old Navy, Gap, Banana Republic and Athleta, has announced the appointment of Richard Dickson as the company's president and chief executive officer, effective August 22, 2023. "Richard has invaluable expertise in areas critical to the work Gap Inc. is doing to strengthen the company for the long term. And...

People

Gap names Chris Blakeslee as President and CEO of Athleta

Gap Inc. has appointed Chris Blakeslee as the new President and CEO of Athleta, the women's active and lifestyle brand with a nearly 1.5 billion dollar portfolio. In a statement Gap saidBlakeslee's extensive expertise in apparel retail and wholesale will drive strategic growth, building on Athleta's product innovation and mission to empower...

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Gap narrows Q1 losses despite drop in sales

US fashion and lifestyle giant Gap reported a 6 percent drop in sales in the first quarter of the year, but its stock price jumped as its losses narrowed. In the three months ended April 29, the retailer made sales of 3.28 billion dollars compared to the 3.48 billion dollars it reported a year earlier amid a backdrop of rising inflation and...

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Gap reports tough Q4, rejigs leadership team

Fourth quarter net sales at Gap, Inc. of 4.24 billion dollars, were down 6 percent compared to last year, and comparable sales were down 5 percent. The company’s store sales decreased 3 percent compared to last year, while online sales decreased 10 percent and represented 41 percent of total net sales. For the full year, the company’s net sales...

Fashion

Athleta launches in the UK via joint venture with Next

US premium sports and activewear brand Athleta, acquired by Gap in 2008, has officially entered the UK market via Gap Inc’s joint venture with Next PLC. The move expands the Gap partnership, which has seen the apparel brand reintroduced to the British high street with shop-in-shops in Next stores across the UK, as well as the arrival of Banana...