×
963
Fashion Jobs
MARTIN & HARRIS LABORATORIES LTD
Manager-Production
Permanent · Roorkee
AIRTEL
Territory Manager - Gulbarga
Permanent · Aland
MARTIN & HARRIS LABORATORIES LTD
Manager-Production
Permanent · Roorkee
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Khandala
Permanent · Lonavala
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Vadodara
Permanent · Vadodara
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Bharuch
Permanent · Bharuch
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Nasik
Permanent · Nashik
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Gangtok
Permanent · Gangtok
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Gondal
Permanent · Gondal
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Rajsamand
Permanent · Rajsamand
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Patna
Permanent · Patna
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Kolhapur
Permanent · Kolhapur
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Vapi
Permanent · Vapi
PAPERGRID INDUSTRIES
Area Manager (Sales)
Permanent · Chennai
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Bhavnagar
Permanent · Bhavnagar
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Osian
Permanent · Osian
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Gaya
Permanent · Gaya
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Igatpuri
Permanent · Igatpuri
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Ramgarh
Permanent · Ramgarh Cantonment
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Puri
Permanent · Puri
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Kota
Permanent · Kota
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Veraval
Permanent · Veraval
Published
Nov 26, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gap to close hundreds of stores “with urgency”

Published
Nov 26, 2018

The flagship brand of American apparel group Gap Inc is looking to close hundreds of its stores urgently, group president and CEO Art Peck said in an earnings call on Tuesday.




“There are hundreds of other stores that likely don’t fit our vision for the future of Gap brand specialty store, whether in terms of profitability, customer experience, traffic trends, importantly the ROD structure and/or near and long-term relevance to the brand,” Peck said.

“There likely will be a cash cost to exit many of these stores, which we will attempt to minimize with appropriate sequencing. But I plan to exit those that do not fit the future vision quickly. I’m going to move thoughtfully, but aggressively.”

The announcement came after another weak quarterly performance for the Gap brand, which continues to be outpaced by sister brands Old Navy, Athleta and Banana Republic.

The group did not announce which of its 775 locations are scheduled to close, but noted that that the number could include some of its global flagships.

“Addressing the bottom half of the fleet [of global locations] represents over $100 million of earnings contribution opportunity and it is that portion of the fleet that is dragging down the brand,” Peck said. “This is the piece of the business that we are firmly committed to addressing with urgency.

“It includes some amazing flagship stores around the world that we’re evaluating with an objective eye on which ones provide sufficient value to keep. Collectively, the flags have meaningful negative contribution.”
 

Copyright © 2022 FashionNetwork.com All rights reserved.