Gap CEO Glenn Murphy received compensation worth nearly $6 million in 2010, an 18 percent increase from the year before, according to an analysis by The Associated Press. Get the full story »
Gap
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Lampert, hedge fund take 5.8% Gap stake
Wall Street Journal | ESL Partners, the hedge fund run by Sears Holdings Chairman Edward Lampert, has taken a 5.8 percent stake in Gap Inc., according to a Securities and Exchange Commission filing.
January retail sales outpace forecasts
January sales at major U.S. retailers blew past analysts’ expectations as shoppers braved snowstorms in an unexpected sign of consumer strength.
Some retailers, including Limited Brands Inc., Gap Inc., Aeropostale Inc. and TJX Cos., also raised their profit estimates for the holiday quarter, cheering investors worried about rising costs of cotton and other commodities. The Standard & Poor’s Retail index rose 1.1 percent. Get the full story »
Underperforming Gap makes change at top
Impatient over the slow pace of its sales recovery, Gap Inc. said the head of Gap North America will step down, as the apparel brand tries to reinvigorate its merchandise and flagging stock price.
Marka Hansen, president of Gap North America since 2007, is leaving Feb. 4, and will be replaced by an insider to be named soon, Gap said Tuesday. Get the full story »
Gap profit off 1.3%, sales up 1.7% in 3Q
Gap Inc.’s fiscal third-quarter profit fell 1.3 percent, though share repurchases boosted the the casual-apparel retailer’s per-share earnings.
But shares of Gap, which affirmed its fiscal-year outlook, were down 2.1 percent, at $20.47, after hours as margins fell and the company said it would close fewer stores than previously planned. Get the full story »
Gap goes back to old logo after backlash
Gap's old and new logos.
The Gap is reverting to its classic logo after a new logo it debuted on its Web site ignited a customer backlash. The apparel maker, famous for its chinos and jeans, said late Monday that it would no longer be using the new logo and was going back to its original. Get the full story »
Teen retailers pace Sept. gains in same-store sales
Teen apparel retailers led generally stronger-than-expected same-store sales in September, with a late start to the back-to-school season helping those chains beat Wall Street forecasts.
Department stores and luxury chains also posted forecast-beating results, though retail experts warn the gains could be short-lived as consumers draw up budgets for the holiday shopping season. Get the full story »
Old Navy revival lifts Gap in 2Q
Rising sales at its low-price Old Navy chain helped Gap Inc. post a 3 percent increase in second-quarter net income, Gap said Thursday.
Based in San Francisco, Gap also operates Banana Republic and Gap stores, plus its websites including its Piperlime online business. And it affirmed a profit outlook for the year that is in line with Wall Street estimates. Get the full story »
