Gap reported second quarter diluted earnings per share of 67 cents, while adjusted earnings per share were 70 cents. The company raised its full year reported diluted earnings per share guidance to be in the range of 1.90 dollars to 2.05 dollars and 2.10 dollars to 2.25 dollars on an adjusted basis. The company’s net sales of 4.2 billion dollars...
Aug 27, 2021
As part of Old Navy’s new BODEQUALITY campaign, the brand’s plus-sizes will no longer be kept in a separate section at their stores or online, and women’s apparel will now be offered from sizes 0 to 30. Old Navy makes this moves as fashion brands like Eloquii and Torrid are gaining traction with Gen Z for a more inclusive size range. The...
Aug 18, 2021
Sales at US fashion and lifestyle retailer Gap topped pre-Covid levels in the first quarter of the year as its markets opened back up, leading to a hike in its full-year outlook. The company said net sales across its brands for the first quarter ending May 1 were up 89 percent to 3.99 billion dollars compared to last year when the pandemic was...
May 28, 2021
Gap’s board of directors has authorized a second quarter dividend of 12 cents per share, payable on or after July 28, 2021 to shareholders of record at the close of business on July 7, 2021. Additionally, Gap Inc. announced the resumption of its share repurchase program, which has 800 million dollars of its 1 billion dollars authorization...
May 12, 2021
Over the past several years, more companies and cities around the United States have begun celebrating Juneteenth, a holiday celebrating the emancipation of slaves in the United States. Of course, with people celebrating, fashion companies wanted to get in on the action. Old Navy recently hired influencer agency Mavrck to reach out to Black...
May 7, 2021
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...
Apr 19, 2021
Gap’s diluted earnings per share were 61 cents for the fourth quarter of fiscal year 2020. The company said, net sales were 4.4 billion dollars, a decrease of 5 percent compared with last year, while online sales grew 49 percent compared with last year and represented 46 percent of net sales in the fourth quarter, which was an increase of over...
Mar 5, 2021
Gap Inc. has announced that its board of directors affirmed the payment of its previously approved and deferred first quarter fiscal year 2020 dividend of 0.2425 cents per share, payable on or after April 28, 2021 to shareholders of record at the close of business on April 7, 2021. The company also announced its intent to initiate a quarterly...
Mar 3, 2021
Gap Inc. said that its third quarter results reflected flat sales versus last year, supported by 5 percent growth in comparable sales, which was driven by a 61 percent increase in online sales. The company said in a statement that net sales were impacted by the company’s ongoing strategy to close unprofitable stores. Gross margin increased 160...
Nov 25, 2020
Old Navy has announced its new initiative, The Imagine Mission, which aims to bolster the company’s goals of opportunity, inclusivity and sustainability. The fashion retailer has published its ‘commitment to change’ for its brand, communities and employees. It consists of doubling its black and latinx representation of employees at all levels in...
Oct 13, 2020
Nancy Green has officially been named as the chief executive officer of Old Navy, the largest brand within the Gap Inc. portfolio. She has been serving as the brand's interim head since March and was previously president and chief creative officer. Green will report to Gap's chief executive, Sonia Syngal, and serve on the company's senior...
Oct 9, 2020
Old Navy is promoting community service in a very unique way. The retailer has offered to pay its store employees who volunteer to serve as poll workers on U.S. election day this November. The company has teamed with the Civic Alliance and Power the Polls to help the organizations recruit 250,000 new poll workers, which would ensure polling...
Sep 1, 2020
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