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The Latest Breaking News from Old Navy

Gap Executive Departures Spell Bad News for Investors and Shoppers

Whoever is in charge, apparel retailer Gap continues to struggle to sell merchandise that consumers want without big discounts.

The Street

Commentary: Pineapple belts and banana wallets: This ain’t your father’s leather

I was shopping at Target last week. I needed a belt. Nothing fancy, just a nice, simple belt I could wear with a pair of jeans. When I got to the menswear department, I thought, “Eh, all they have is leather.” But no, the labels said otherwise. Faux leather has…

Tribune News Service

As Old Navy leaves State Street, another reinvention is needed

There’s a bigger issue afoot than what will happen to the former Old Navy site: What’s next for the Great Street?

Chicago Sun-Times

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Old Navy, a downtown mainstay, is closing its State Street store

The retailer has operated at the location since 2012. Three other Old Navy stores remain open near downtown. Analysts expect the prime corner to find a new tenant.

Chicago Sun-Times

Gap Lays Off 500 as Fast-Fashion-Focused Consumers Snub Its Brands

Despite efforts to reinvigorate its Gap, Old Navy and Banana Republic offerings, Gap is laying off 500 corporate workers as consumers snub the once-popular brands.

The Street

Gap Stock Higher On Surprise Q2 Profit, But 2022 Outlook Scrapped

"Like so many others in our industry, we are managing through elevated inventory levels as a result of changing demand trends and shifting consumer preferences," said CFO Katrina O'Connell.

The Street

‘The Power of Plus’ author Gianluca Russo wants fashion to face its toxic, fatphobic tendencies

“This industry is still incredibly far behind from where it should be, and if we don’t talk about that and analyze that, what are we doing for future generations?”

Mic

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Gap CEO Steps Down. Should We Take Advantage of the Stock’s Downward Move?

Apparel retailer Gap’s (GPS) CEO recently stepped down, which seems to have weighed down its stock price. With the stock in a downward trend, will it be wise to invest in it now? Read on to find out….

StockNews.com

Old Navy Makes a Really Big Promise to Families and Fashionistas

The clothing store committed to not raising the price of its jeans for the next three months.

The Street

Old Navy’s Bored Ape Yacht Club T-shirts are pure monkey business

The mall brand has licensed Bored Ape #7285 for a graphic tee.

Input

Gap Analysts React To Mixed Q1 Earnings: 'Disappointed, But Not Surprised'

Shares of Gap Inc (NYSE: GPS) intially dropped more than 5% on Friday after the company reported first-quarter earnings and cut its full-year profit guidance.

Benzinga

Old Navy Made Clothing Sizes for Everyone. It Backfired.

Old Navy set out to make clothes shopping more inclusive for women of all body types. It ended up with too many extra-small and extra-large items and too few of the rest, a mismatch that frustrated customers and contributed to falling sales and a management shake-up.

Bangkok Post

Stocks Edge Lower, Twitter, Gap, Snap and Disney - Five Things To Know

Stock futures extend slide as hawkish Powell ignites rate rally; Twitter shares higher on report Musk may team-up with Thoma Bravo; Gap shares plunge as group loses Old Navy exec, slashes sales forecast; Snap sees inflation, supply chains hitting Q2 ad revenues and Disney set to lose self-governing status in…

The Street

Store credit cards generate corporate profits and disgruntled workers

Clothing retailers sell their shoppers more than jeans and sweaters.

The Conversation

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The Guardian - UK

Shrinking the Gap: how the clothing brand lost its way

Gap’s clothes defined an era, but it has been steadily declining for years. Can a collaboration with Kanye West revive its fortunes – or is it just another sign of a brand flailing around for an identity?

Benzinga

BofA Downgrades Gap On Old Navy Concerns

Old Navy, which contributes to around 55% of Gap Inc’s (NYSE: GPS) sales, is likely to be “disproportionately hurt” by its exposure to low-income consumers and worsening supply chain disruptions, according to BofA Securities.

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