Gap Inc. has announced the departure of president and chief executive officer Sonia Syngal. The company said in a release that effective immediately, Bob Martin, the company's current executive chairman of the board, will serve as Gap Inc. president and chief executive officer on an interim basis. Mayo Shattuck will continue to serve as lead...
Jul 12, 2022
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...
May 28, 2022
Gap has reported a 13 percent year-over-year drop in sales to 3.5 billion dollars in the first quarter of the year, with comparable sales down 14 percent. Online sales at the US fashion giant declined 17 percent, while its store sales were down 10 percent. The company swung to a net loss of 162 million dollars from a net profit of 166 million...
May 27, 2022
Old Navy, Nike and American Eagle are among the United States’ favorite fitting brands according to the latest data from True Fit, the leading solution that helps apparel and footwear retailers optimize fit guidance online and drive confidence for shoppers. True Fit’s Fashion Genome™, the world’s largest apparel and footwear dataset, connects...
May 6, 2022
Gap Inc. has announced that Old Navy president and CEO Nancy Green is exiting the business this week. Commenting on the development, Gap Inc. CEO Sonia Syngal said in a release: “As we look to seize Old Navy’s potential, particularly amidst the macro-economic dynamics facing our industry, we believe now is the right time to bring in a new leader...
Apr 22, 2022
Gap Inc. said reported diluted loss per share for the fourth quarter was 4 cents, while adjusted diluted loss per share was 2 cents. Fiscal year 2021 reported diluted earnings per share were 67 cents and adjusted diluted earnings per share were 1.44 dollars. The company’s fourth quarter net sales of 4.5 billion dollars were down 3 percent...
Mar 4, 2022
Gap Inc. board of directors has approved plans to increase the company’s annual dividend per share to 60 cents in fiscal year 2022, a 25 percent increase from the company’s current annualized rate of 48 cents. The company announced that its board of directors has authorized a first quarter fiscal year 2022 dividend of 15 cents per share, payable...
Feb 25, 2022
Bank of America (BofA) has once again dropped its rating of Gap Inc., taking it from Neutral to Underperform. The firm has expressed apprehensions over the ongoing impact of supply chain challenges on the retail group’s near-term results, as well as citing concern with Old Navy, which it has said accounts for 55 percent of Gap’s sales. “We...
Feb 17, 2022
Gap Inc. reported a third quarter fiscal year 2021 diluted loss per share of 40 cents. The company said, third quarter net sales of 3.9 billion dollars were down 1 percent compared to 2019 with supply chain disruption driving an estimated 8 percentage point negative impact due to constrained inventory. The company noted that while supply chain...
Nov 24, 2021
Retail brand Old Navy is celebrating inclusivity with its Happy All-idays campaign. The campaign seeks to encourage all Santas to participate, arranging an inclusive training course for all those who are “interested in spreading the holiday joy”. Open to anyone of any background, ethnicity and cultural heritage, Old Navy wishes to offer more...
Nov 9, 2021
Dependable, everyday wear for the entire household at affordable prices SINGAPORE, 23 SEPTEMBER 2021 -- ZALORA, Asia’s fashion and lifestyle destination is proud to announce the launch of American heritage brand, Old Navy. Well-loved for its commitment to the democracy of style, Old Navy offers a range of trend-led apparel and accessories that...
Sep 23, 2021
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
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