Apparel retailer Gap reported a surprise 13% rise in quarterly comparable sales on Thursday, as consumers stuck at home due to the COVID-19 pandemic bought more of its Old Navy and Athleta clothing online.
The American fashion group has announced that it has appointed IMG as its first ever exclusive multi-brand licensing representative, a partnership that opens the door for a range of cross-category product extensions.
Gap Inc on Thursday said comparable sales for the fourth-quarter fell less-than-expected, as the coronavirus continues to spread across the globe causing supply chain delays and sales halts for the world's retailers.
The CEO of the American fashion group, who stepped into his role in early 2015, will be succeeded by chairman of the board, Robert J. Fisher, heir of the company's founding family, who takes over as interim CEO.
Gap, Inc. has given an update on the upcoming separation of its businesses into two companies, revealing plans to almost double Old Navy’s physical store count, while the Gap brand will refocus around denim.