The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Gap Inc. is reporting a 2 percent drop in a key revenue measure for February, dragged down by weakness at its Banana Republic stores.
The results, announced late Thursday, were slightly worse than the 1.4 percent decline that analysts were expecting, according to Thomson Reuters.
Gap said that by division its namesake brand saw revenue at stores opened at least a year improve from the prior months, with business unchanged compared to a year ago. Old Navy's metric was also unchanged. Banana Republic, which has been suffering from poor fit and quality issues, suffered an 11 percent drop in the metric.
The results mark the 11th consecutive monthly decline in the measure and underscore the challenges CEO Art Peck faces as he tries to turn around the San Francisco retailer.
By Anne D'innocenzio.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
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