News

Gap pivoted to masks and ended up selling $130 million worth of them

Gap Inc. said Thursday that it sold $US130 million worth of masks in the most recent quarter. It started selling masks in the spring as the industry dealt with the impact of temporary store closures. The move clearly paid off for the company. Visit Business Insider’s homepage for more stories. […]
Gap pivoted to masks and ended up selling $130 million worth of them
News

More than 225 Gap and Banana Republic stores will close this year

Gap Inc. is closing more than 225 Gap and Banana Republic stores this year, it said in its earnings release on Thursday. The company was already planning on closing a number of stores this year, but the 225 figure is larger than originally planned. Gap’s net sales were down 28% […]
More than 225 Gap and Banana Republic stores will close this year
Lifestyle

From the Juul founders to Nordstrom heirs, here are the 15 most notable people who dropped off the Forbes billionaires list this year

Forbes knocked over 260 people off its iconic Billionaires List in 2020. Members of several retail dynasties – including the families behind Forever 21, Gap, Urban Outfitters, and Nordstrom – are no longer billionaires, according to Forbes. While some of the drop-offs lost their fortunes before the coronavirus pandemic, others […]
From the Juul founders to Nordstrom heirs, here are the 15 most notable people who dropped off the Forbes billionaires list this year
News

Gap cancels plan to spin off Old Navy, citing ‘cost and complexity’

Gap Inc. is halting plans to spin off its Old Navy brand into a standalone company, citing “cost and complexity” as a reason for the reversal. In a statement, interim president and CEO Robert Fisher said the process of spinning off Old Navy shone a “bright light on operational inefficiencies […]
Gap cancels plan to spin off Old Navy, citing ‘cost and complexity’
News

We went to a Gap store and saw why its sales have been struggling

Gap Inc. reported that same-store sales of its namesake brand decreased by 10% in the first quarter of 2019 as a result of inventory woes and declining foot traffic. After Gap announced plans earlier this year to spin off its Old Navy brand into a separate company, the off-price brand […]
We went to a Gap store and saw why its sales have been struggling