Gap Inc news and archive

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...

Fashion

Peter Do to collaborate with Banana Republic

Banana Republic has revealed its forthcoming exclusive capsule collaboration with renowned New York-based fashion designer, Peter Do. The collaboration, set to debut this Fall, will amalgamate the ethos of both American brands, accentuating the significance of sartorial choices and how to dress. Grounded in the principles of versatility,...

Fashion

Gap teams up with Mattel and Barbie

Clothing brand Gap and toy manufacturer Mattel have announced a new apparel collaboration featuring multiple collections inspired by Mattel’s portfolio of brands and Gap’s signature styles. The first collaboration from the Gap x Mattel product drops will focus on Barbie with a range designed to offer something for the “entire family”. The Gap x...

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...

Fashion Featured

Gap Inc confirms Banana Republic is returning to the UK

Gap Inc. confirms that Banana Republic and Athleta will start selling within the UK and Ireland again through its joint venture with Next announced in September 2021, where Next owns 51 percent and Gap owns 49 percent. The move builds on the success of the Gap partnership, which has seen the apparel brand reintroduced to the British high street...

Retail

Yeezy Gap launch first physical retail in New York’s Times Square

Heavy duty refuse sacks filled with garments, piled on the floor. Blacked out walls and shutters that nod to a distilled utopia. Not the usual experience one expects to find in a retail store, let alone one operated by Gap Inc. But that is precisely the image Kanye West aimed to convey for the first Yeezy Gap physical space at Gap’s Times Square...

Business

Gap releases annual diversity and inclusion report

Gap Inc. on Thursday said it is in keeping with its diversity commitments, after releasing its second annual Equality & Belonging report. The fashion group, which also operates Banana Republic, Old Navy and Athleta, said Black representation at senior levels went up two percentage points in comparison to 2020. Overall 55 percent of its US...

Business

Gap invests 1 million dollars in female founded footwear brand Saysh

Gap Inc and Athleta have invested 1 million dollars in Saysh, a footwear branded founded by Olympic medallist Allyson Felix and brother Wes Felix. Felix reportedly was unable to find the perfect sneaker whilst preparing for the Tokyo Olympics last year, prompting her to set up Saysh, a shoe brand by women, for women, focused on community...

Business

Gap shares crash again as it cuts its revenue forecast

Gap Inc. had a rough trading week after announcing it cut the forecast of its annual sales and profit. On Friday, shares in the fashion retailer fell 7 percent early morning, increasing to over 15 percent in extended trading. So far this year Gap’s value has plummeted 37 percent according to Reuters. Gap stated the rising costs of transport and...

Retail |In Pictures Featured

Gap returns to the British high street with Next

Gap has opened its first branded shop-in-shop within Next’s Oxford Street store in London, in a return to the British high street, following the closure of all of its UK stores in 2021 after a strategic review of its business. The first Gap shop-in-shop is located within Next’s largest West End store on London’s Oxford Street and will be the...

Retail

Old Navy announces the elimination of plastic shopping bags

In agreement with parent company Gap Inc.’s announcement to ban single-use plastic by 2030, American clothing retailer Old Navy announced it would eliminate the use of plastic bags from all its US and Canada stores. Instead, all plastic shopping bags in its North American stores will be replaced with paper bags made from 40 percent post-consumer...

Podcast

Podcast: Alice Hartley of Gap Inc and Dr Gary Adams of US Cotton Trust Protocol discuss Gap Inc’s sustainability goals

In this episode, Fashion is your Business interviews the director of product sustainability at Gap Inc Alice Hartley and the president of the US Cotton Trust Protocol Dr Gary Adams to discuss Gap Inc’s sustainability goal of having 100 percent sustainably sourced cotton across all its products by 2025. Listen to the podcast below. Source:...