Gap news and archive

Gap to remove Yeezy Gap products from stores immediately

Gap, which ended its partnership with Ye, formerly Kanye West, in September, have confirmed it is accelerating the removal of Yeezy Gap products from its store and have shut down the dedicated website for the brand. In a statement, Gap said: “In September, Gap announced ending its Yeezy Gap partnership. Our former partner’s recent remarks and...

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Business

Gap to close all stores in UK and Ireland in online-only shift

US fashion retailer Gap has announced plans to close all its stores in the UK and Republic of Ireland “in a phased manner” from the end of August through the end of September 2021. The decision comes following a strategic review the company launched last year to find “more cost-effective ways to maintain a presence and serve customers in Europe”...

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Retail

Gap to close 19 stores across UK and Ireland

US fashion retailer Gap is reportedly planning to close 19 stores across the UK and the Republic of Ireland this summer as it streamlines its store estate. The company has decided not to extend the lease of the affected stores when they expire on July 31 following a strategic review launched in autumn last year, Drapers reports. The location of...

Fashion |In Pictures

First Look from Yeezy Gap released

Gap has unveiled the first look from its highly anticipated collaboration with Kanye West, a Yeezy Gap blue puffer jacket available for pre-order to US customers only. The blue ‘Round Jacket’ features a curved, drop-shoulder silhouette and is made from recycled nylon. The first Yeezy Gap item will retail for 200 US dollars and will launch in...

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Business

Gap Q1 sales top pre-Covid levels, swings to profit

Sales at US fashion and lifestyle retailer Gap topped pre-Covid levels in the first quarter of the year as its markets opened back up, leading to a hike in its full-year outlook. The company said net sales across its brands for the first quarter ending May 1 were up 89 percent to 3.99 billion dollars compared to last year when the pandemic was...

Retail

Gap reveals first-ever home essentials to be available at Walmart

American fashion retailer Gap has announced its first-ever brand of home essentials - Gap Home. The launch will be exclusively available at Walmart, featuring over 400 products including home décor, tabletop, bedding, and bath. The Gap Home collection includes quality materials like denim and chambray with unique finishes. The brand also...

Business

Gap declares Q2 dividend

Gap’s board of directors has authorized a second quarter dividend of 12 cents per share, payable on or after July 28, 2021 to shareholders of record at the close of business on July 7, 2021. Additionally, Gap Inc. announced the resumption of its share repurchase program, which has 800 million dollars of its 1 billion dollars authorization...

Business

Gap to sell childrenswear brand Janie and Jack to Go Global Retail

Gap is to sell its premium childrenswear label Janie and Jack to Go Global Retail, two years after buying it. Founded in 2002, San Francisco-based Janie and Jack sells apparel, footwear, and accessories from newborn to size 16. The company has 115 retail stores in the US as well as a webstore. It was acquired by Gap back in March 2019. Go Global...

Fashion

Gap introduces most sustainable collections to-date

American retailer Gap has launched its most sustainable capsule collection to date, featuring everyday essentials across adult, teen, kids, and babyGap. Building upon the brand’s 2016 Gap for Good commitment to use less water and more sustainable materials, the ‘Generation Good’ capsule is made of organic and recycled fabrics and has been...

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Retail

Fast fashion retailers are closing their stores, shrinking global retail

The annus horribilis for global retailers in the fashion industry is yet to end. Covid-19 has been an ongoing catalyst for transformation and at worst had a Darwinian effect, spurring an international reduction of physical shops. According to Modaes, Spain’s economic fashion news outlet, an estimate of closures from three large players including...

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Business

Gap posts sales decline in Q4, expects recovery in 2021

Gap’s diluted earnings per share were 61 cents for the fourth quarter of fiscal year 2020. The company said, net sales were 4.4 billion dollars, a decrease of 5 percent compared with last year, while online sales grew 49 percent compared with last year and represented 46 percent of net sales in the fourth quarter, which was an increase of over...

People

Gap appoints former Disney exec to board

Gap has announced the appointment of former Disney exec Salaam Coleman Smith to its board of directors, effective March 22. A media industry veteran, Smith served as executive vice president at the Disney ABC Television Group where she oversaw strategy and programming for ABC Family and Freeform. Prior to joining Disney, Smith spent more than a...