Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
Art Peck
Gap Inc. Cancels Summer and Fall Orders As Covid-19 Bites
The US retailing giant asked suppliers to stop shipping orders and halt production for the fall season, taking drastic measures to mitigate fallout from a widespread retail lockdown.
Gap Inc. Chief Executive Art Peck Exits
Robert J. Fisher, Gap Inc.'s non-executive chairman of the board, will replace Peck as interim CEO and president.
Gap and Old Navy Are Breaking Up
Gap Inc will spin out Old Navy, the company said Thursday, in an effort to bolster both the growing Old Navy and fading Gap brands.
Gap CEO Is 'Drawing Line in Sand' With Shift to Old Navy
The idea is to focus on the areas with the most potential for fuelling growth — rather than having unrealistic expectations for the older divisions.
Trump to Meet with Retail CEOs on Border Adjusted Tax
The meeting will include CEOS from Target, Gap and J.C. Penney, according to those familiar with attendees.
Gap Narrowly Tops Earnings Estimates Amid ‘Signs of Progress’
Gap Inc. posted second-quarter earnings that narrowly topped analysts’ estimates, giving hope that the largest apparel-focused U.S. retailer can mount a comeback.
Gap Says Key Sales Measure Slides 6 Percent in May
Gap says sales at established stores fell 6 percent in May. That was better than the 7 percent decline forecast by Thomson Reuters.
Gap CEO Says He Would Consider Using Amazon to Reach Customers
Gap Inc. chief executive officer Art Peck said the retailer would consider relying on third-party sellers such as Amazon.com Inc. to reach customers.
Gap Plummets After Comeback Plan Fails to Revive Sales Growth
Gap Inc. shares plunged as much as 15 percent in late trading after the apparel chain posted disappointing results, a sign the company’s comeback hasn’t materialised.
Gap Reports 2 Percent Drop in Revenue Measure for February
Gap Inc. is reporting a 2 percent drop in a key revenue measure for February, dragged down by weakness at its Banana Republic stores.
Gap Profit Forecast Trails Some Estimates Amid Turnaround Effort
Gap Inc. forecast profit this year that trailed some analysts’ estimates as the company tries to revive sales.
Gap Shares Tumble After Sales Plunge at Once-Hot Old Navy Brand
Gap Inc. fell as much as 9.1 percent in late trading after December sales tumbled at its Old Navy chain, which was long seen as the company’s brightest star.
The News in Brief
Celine Adds To Fragrance Line-Up
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Sales Rise More Than Expected, Led by Beauty
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
Biden Signs Possible TikTok Ban Into Law; ByteDance Vows Legal Challenge
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
Google Postpones Phasing Out of Ad Cookies in Chrome Browser
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.
Sales at Italy’s Moncler Up 16% in First Quarter Boosted by China
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
PZ Cussons to Sell St Tropez, May Exit Africa
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU Parliament Approves New Business Supply Chain Audit Law
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.