Friday, May 31, 2019

Gap Brand, Old Navy Post Weakest Sales in Three Years

The Wall Street Journal
Comparable sales slipped at Old Navy for the first time in three years and the Gap brand posted its biggest decline since 2016, a weak showing for both chains ahead of a planned breakup.

Inc. Chief Executive Art Peck cited a litany of reasons for the disappointing results, including poor weather, slower traffic for stores, lower tax refunds for consumers and a decision to delay some marketing until later in the year.. . . more