Gap Profit Up 40 per cent As Old Navy Drives Sales (WSJ) “Gap Inc. (GPS) reported a 40% increase in profits for the first quarter, as sales were boosted by strong performance at the company’s budget brand, Old Navy. Sales at that division rose 6.8% to $1.3 billion, accounting for nearly 40% of Gap Inc.’s total.” Versace and Kane: An Odd Mix That Works (NYT) “They are an odd couple, Mr. Kane and Ms.
Gap targets Milan and China as it kickstarts its plans for global expansion (FT) “Gap, the American casual clothing retailer, plans to open a store in Milan, the home of Italian high fashion, later this year, in a further sign of its growing confidence after a multi-year slump.” Mariella Burani Fashion Group Will Be Dissolved (Bloomberg) “Mariella Burani Fashion Group, which makes Vivienne Westwood products under
Changes at the top for Holts (Globe and Mail) “Upscale fashion retailer Holt Renfrew & Co. has replaced its president Caryn Lerner with company insider Mark Derbyshire, making the leadership change just as it is gearing up for a more prosperous economic environment.” Neiman Marcus key sales figure climbs in December (Business Week) “Luxury retailer Neiman Marcus Inc. said Thursday that sales at its namesake
NEW YORK, United States — As the holiday shopping season draws near, we’re watching the market for premium denim with particular interest. According to a recent article by Eric Wilson in The New York Times: “The $300 pair of designer jeans is now, courtesy of the recession, the $200 pair of designer jeans.” With this recent “market correction,” Los Angeles-based J Brand has become one of the hottest
For the Downturn, Gucci Downplays the Logos (Business Week) “The fashion house is going both upscale and down, but its signature Gs are relegated to the back room.” New F.T.C. Rules Have Bloggers and Twitterers Mulling (NY Times) “Beginning Dec. 1, bloggers, Twitterers and many others who write online product reviews must disclose the receipt of free merchandise or payment for the items they write about.”