Gap Inc

A general view of an Old Navy store. Gap Inc.Gap's largest banner Old Navy returned to growth for the first time in more than a year during its holiday quarter as the retailer delivered earnings on Thursday that came in well ahead of Wall Street's expectations. Sales at Old Navy grew 6% to $2.29 billion, and Gap's overall gross margin surged 5.3 percentage points to 38.9% thanks to fewer markdowns and lower input costs. Analysts had expected a gross margin of 36%, according to StreetAccount. Shares of Gap jumped about 5%…

If you grew up shopping at Gap, you can likely remember some of the great moments in its brand marketing history, from ads featuring a young Spike Lee in the 1980s to the slogan “For every generation” to the famous “Who Wore Khakis” series of print ads, featuring unexpectedly preppy styling from the likes of Miles Davis, Picasso, and James Dean. But it’s been a while since the Gap brand really crossed over to enter the sweater-buying pubic’s consciousness—a loss in cultural cachet that has run in parallel with diminishing…

The hedge fund that owns True Religion is exploring a sale of the Y2K-era jeans brand as it returns to growth and profitability after emerging from its second bankruptcy, CNBC has learned. True Religion sales jumped about 20% to around $280 million last year, and it brought in $80 million in earnings before interest, taxes, depreciation and amortization, people familiar with the matter said. It's unclear what valuation True Religion is seeking, but it could sell for a mid-single-digit multiple of its EBITDA, said the…

Levi Strauss' Beyond Yoga has tapped former Athleta CEO and longtime Gap veteran Nancy Green to be its next chief executive, as the company looks to scale beyond its modest roots and compete with industry leaders such as Lululemon and upstarts such as Alo Yoga and Vuori.  Beyond Yoga's founder Michelle Wahler, along with its Chief Operating Officer and Chief Financial Officer Jesse Adams, will both be stepping down. Green is slated to take the reins on Feb. 1, the company said in a news release. Wahler and Adams will stay…

Barbie dolls (R) are displayed for sale ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season. Promotions across a range of categories, including apparel, appliances and computers, were significantly higher last month than in 2021 and 2022, data from Adobe…

A Gap retail store sign on September 20, 2022 in Los Angeles, California. Allison Dinner | Getty ImagesGap posted a better-than-expected third quarter on Thursday, but the apparel retailer still appears cautious ahead of the holiday season as it works to reverse slowdowns at Banana Republic and Athleta. The company, which also runs Old Navy and its namesake banner, far exceeded Wall Street's estimates for profits and same-store sales, but only reaffirmed its full-year guidance and expects holiday-quarter sales to be flat…

Richard Dickson, CEO of Gap Inc.Courtesy: Gap Inc.Gap announced Wednesday it's poached a top Mattel executive to be its new CEO as the apparel giant seeks to reverse an ongoing sales slump and regain its relevancy in the fashion industry.Richard Dickson, president and chief operating officer at Mattel, was chosen as Gap's top boss after a yearlong search that began last summer when former CEO Sonia Syngal left the company.related investing newsSince then, Gap's chairman, Bob Martin, has been serving as interim CEO during…

Bloomingdale's is just one of the retailers and brands trying to tap into Barbie buzz. It has a pop-up with exclusive Barbie-inspired apparel and accessories, along with a life-sized Barbie box where shoppers can strike a pose.Bloomingdale'sNEW YORK CITY — In the middle of Manhattan, shoppers can step inside of a life-sized Barbie box, strike a pose by a hot pink slide and browse earrings, dresses and candles inspired by the iconic plastic doll.The pop-up shop inside Bloomingdale's flagship store is just one example of…

Locked up merchandise, to prevent theft in Target store, Queens, New York. Lindsey Nicholson | Universal Images Group | Getty ImagesThe Inform Consumers Act, a new law that aims to curb organized retail theft and the sale of counterfeit and harmful products on online platforms, takes effect Tuesday as more retailers blame theft as a reason for lower profits. The new law requires online marketplaces, such as Amazon and eBay, to verify and share information on third-party sellers that handle a high volume of transactions on…

Lululemon reported earnings that beat Wall Street's estimates on the top and bottom lines Thursday and raised its full-year guidance, bolstered by improvements in China and freight costs. Shares of the company surged more than 12% in extended trading.Here's how the retailer did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts compiled by Refinitiv:Earnings per share: $2.28 vs. $1.98 expectedRevenue: $2 billion vs. $1.93 billion expectedThe company's reported net…