Gap Inc news and archive

Gap launches limited-edition Wicked capsule collection

Fashion retailer Gap has launched a new limited-edition capsule collection to mark the release of the upcoming movie adaptation of Wicked, which will debut in cinemas on November 22. The collection consists of 20 items, including pieces for children and adults inspired by the movie's main characters, Elphaba and Glinda. Key pieces in the capsule...

BusinessFeatured

Gap reports strong Q2, increases outlook

Gap net sales for the second quarter of 3.7 billion dollars were up 5 percent with comparable sales up 3 percent year-over-year. Increasing its gross margin and operating income outlook for the year ahead, the company said it expects FY24 operating income in the 50’s growth range and gross margin expansion of 200 bps. "In comparison to where we...

People

Sven Gerjets joins Gap as chief technology officer

Gap Inc. has appointed Sven Gerjets as the company’s new chief technology officer. “It is crucial that our technology portfolio and digital roadmap support the reinvigoration of our brands and enable us to build deeper connections with our customers and achieve our goals. Today we welcome Sven Gerjets who joins us as chief technology officer,...

BusinessFeatured

Gap's turnaround plan boosts Q1 performance, raises outlook

First quarter net sales of 3.4 billion dollars at Gap were up 3 percent with comparable sales up 3 percent year-over-year. Store sales for the quarter increased 3 percent and online sales increased 5 percent. As a result of its strong first quarter results, the company is increasing its outlook for fiscal 2024, reflecting higher net sales and...

Business

Gap Inc. partners with Ambercycle to scale textile-to-textile recycled materials in Athleta products

Gap Inc., the parent company of Gap, Old Navy, and Athleta, has partnered with Ambercycle to leverage textile-to-textile recycled materials in Athleta products. Established in 2015, the Los Angeles-based Ambercycle developed cycora®, a superior regenerated polyester made from discarded textiles, designed to substitute traditional polyester. From...

Culture

Harlem Fashion Row (HFR) announces 6th Annual Black History Month Summit

Harlem Fashion Row (HFR) is set to stage the 6th edition of its annual Black History Month Summit. Set to run February 15 from 1 pm to 5 pm EST, the event known as HFR- Live – The Iconic Era celebrates and honors the contributions of notable black designers, pioneers, creative directors, editors, and influencers within the fashion industry....

Business

Gap Inc. appoints Eric Chan as Chief Business and Strategy Officer & Amy Thompson as Chief People Officer

Gap Inc. announced the appointment of a new chief business and strategy officer and a chief people officer Friday morning as the fashion and lifestyle retailer continues to redefine its business strategy for the future. Eric Chan, Gap's new chief business and strategy officer, stepped into his new role this week onwards, while Amy Thompson will...

BusinessFeatured

Gap posts Q2 profit but sales decline 8 percent

Net sales at Gap Inc. of 3.55 billion dollars, were down 8 percent compared to last year, while comparable sales were down 6 percent. Reported net income was 117 million dollars; while reported diluted earnings per share were 32 cents. The company reported adjusted net income of 127 million dollars, and adjusted diluted earnings per share were...

Fashion

Peter Do to collaborate with Banana Republic

Banana Republic has revealed its forthcoming exclusive capsule collaboration with renowned New York-based fashion designer, Peter Do. The collaboration, set to debut this Fall, will amalgamate the ethos of both American brands, accentuating the significance of sartorial choices and how to dress. Grounded in the principles of versatility,...

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...

Fashion

Athleta launches in the UK via joint venture with Next

US premium sports and activewear brand Athleta, acquired by Gap in 2008, has officially entered the UK market via Gap Inc’s joint venture with Next PLC. The move expands the Gap partnership, which has seen the apparel brand reintroduced to the British high street with shop-in-shops in Next stores across the UK, as well as the arrival of Banana...

Fashion Featured

Gap Inc confirms Banana Republic is returning to the UK

Gap Inc. confirms that Banana Republic and Athleta will start selling within the UK and Ireland again through its joint venture with Next announced in September 2021, where Next owns 51 percent and Gap owns 49 percent. The move builds on the success of the Gap partnership, which has seen the apparel brand reintroduced to the British high street...