Gap news and archive

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...

Business

Under Armour names Gap veteran as chief supply chain officer

Sportswear giant Under Armour has appointed Shawn Curran to the role of chief supply chain officer after what it said was a comprehensive search and interview process. In the position, which he will take on from October 16, Curran will oversee end-to-end planning and go-to-market, product sourcing, manufacturing and quality, global vendor base...

People

Gap’s global creative director reportedly steps down

The current global creative director of Gap, Len Peltier, is believed to have stepped down from the position in July. The news had been confirmed in a statement by a spokesperson for Gap, who told Drapers that Peltier had “exited the business this summer”. His replacement has not yet been named. Peltier first joined Gap Inc in 2017, initially...

Fashion

Gap announces collaboration with LoveShackFancy

Gap has joined forces with New York City-based LoveShackFancy for a limited-edition collection that blends both distinctive brand identities in an expansive collaboration. The 76-piece collection encompasses men’s, women’s, and children’s categories, as well as spanning accessories and baby wear. Captured by photographer Zoey Grossman, the...

BusinessFeatured

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...

Business

Gap becomes newest signatory of Pakistan Accord

American retail group Gap Inc. has become the latest member to sign the Pakistan Accord, bringing the total number of partner garment and textile brands to 64. In a statement on its LinkedIn, International Accord said: “The International Accord is pleased to welcome Gap Inc. as a signatory to the Pakistan Accord. “We are encouraged by Gap Inc.’s...

BusinessFeatured

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...

Business

Gap's redundancies will save it 300 million dollars per year

Gap has announced that it will be cutting 1,800 jobs in its latest round of redundancies. This comes on top of the 500 corporate redundancies that the company announced in September 2022. The move is expected to save Gap approximately 300 million dollars per year. In a statement, Bob Martin, executive chairman and interim CEO at Gap, explained...

Retail

Gap to axe around 1,800 jobs

Gap, Inc., a clothing and accessories retailer, in a filing with the Securities and Exchange Commission, said that it is axing upper field and headquarters workforce by around 1,800, to further simplify and optimize its operating model and structure. Towards this, the company expects to incur about 100 million dollars (about 80 million pounds)...

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...

Business

France's Ohayon empire and its string of subsidiaries

Bordeaux - Chain shops but also palaces, buildings, coffee, wine, higher education institutions or a spa: French businessman Michel Ohayon, who has recently been in the sights of the Paris public prosecutor's office, has invested in just about everything with his family. After the liquidation of clothing chain Camaïeu and the receivership of Go...