Tuesday, May 10, 2016

Gap's Bloodbath Continues As April Sales Plummet

This was supposed to be the moment Gap Inc began to emerge from its long sales slump.

Last year, CEO Art Peck told investors and analysts that the moves he was implementing would halt sales declines and put the Gap and Banana Republic brands back on track and growing just like the Old Navy brand, its biggest, by spring. Instead, all three banners have been reporting month after month of comparable sales declines, a losing streak that continued into April. The namesake brand had its 24th straight month without an increase in comparable sales, which exclude newly opened or closed stores.. . . more

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