Oct. 8, 2015, 5:38 PM
Oct. 8, 2015, 4:35 PM
- Gap (NYSE:GPS) reports total sales for September fell 1% to $1.46B (+2% in constant currency). Comp sales were down 1% during the month.
- Comparable sales growth by brand: Gap Global flat, Banana Republic Global -10%, Old Navy Global +4%.
- The company says it expects gross margin rate in FQ3 will be similar to the rate seen in FQ2.
- GPS -5.0% after hours to $27.50.
Sep. 30, 2015, 3:36 PM
- YogaSmoga will double the number of stores it operates to 12 this year as it looks to edge into some high-end markets. The growing brick-and-mortar presence comes on top of a thriving e-commerce business.
- The athletic apparel brand is pricing many of its products just above comparable items at Lululemon (NASDAQ:LULU) and Athleta (NYSE:GPS).
- Retail analysts note that YogaSmoga also has strong supply chain management that can help it to react quickly to consumer trends.
Sep. 30, 2015, 9:13 AM
Sep. 30, 2015, 7:35 AM
- Shares of Gap (NYSE:GPS) are down sharply in early trading following the company's loss of Stefan Larsson to Ralph Lauren.
- The Old Navy chain has done much of the heavy lifting for Gap's earnings, amplifying the loss of the brand's top global exec.
- Previously: Gap downgraded after loss of key exec
- GPS -8.41% premarket to $27.68 vs. the 52-week trading range of $29.63 to $43.90.
Sep. 30, 2015, 7:15 AM
- Gap (NYSE:GPS) is downgraded by Mizuho to an Underperform rating on a lack of confidence in the Old Navy brand after the loss of a key exec.
- Ralph Lauren hired Old Navy's Global President to be its new CEO.
- The investment firm cut its EPS estimates for FY15 and FY16 due to the lowered expectation for Old Navy.
- RBC has a price target of $26 on GPS.
Sep. 29, 2015, 5:40 PM
Sep. 29, 2015, 4:28 PM
- Nearly 50 years after founding the company that bears his name, Ralph Lauren (NYSE:RL) is stepping down as CEO. He'll remain chairman, and continue shaping his company's vision/strategy.
- Replacing Lauren, 75, is Stefan Larsson, 40, until now the president of Gap's (NYSE:GPS) Old Navy chain. The change will take place in November.
- Ralph Lauren investors are reacting favorably to the move: RL +3.8% after hours to $108.00.
Sep. 17, 2015, 7:30 AM
- MKM Partners upgrades TJX Companies (NYSE:TJX) to a Buy rating after having the retailer set at Neutral.
- Gap (NYSE:GPS) and L Brands (NYSE:LB) were started off by MKM with Buy ratings.
- The investment firm initiated coverage on Express (NYSE:EXPR) and Chico's FAS (NYSE:CHS) at Neutral.
- On a broad scale, U.S. retail sales have held steady over the last six months with no slips into negative territory.
Sep. 4, 2015, 10:11 AM
- L Brands (LB +0.1%) rode a strong month for Victoria's Secret to a rousing 6% comp in August which easily topped the 2% decline at Gap (GPS -2.2%). Gap execs pointed to the late Labor Day weekend as a factor in the tail-off, although L Brands said the magnitude of the calendar effect was only one or two percentage points.
- On a pre-recorded sales call, L Brands CIO Amy Preston noted sales gains were paced by bras and the Pink brand. She said the company expects another positive comp for September.
- Retail analysts have noted that L Brands has put out a strong back-to-school assortment.
Sep. 3, 2015, 4:07 PM
- Gap (NYSE:GPS) reports sales fell 3% in August to $1.20B. Sales growth was flat on a constant currency basis.
- Comparable-store sales were down 2% during the month.
- Com growth by brand: Gap Global -8%, Old Navy Global +6%, Banana Republic Global -11%.
- A familiar tune in the retail sector, Gap pointed to the late Labor Day weekend as an August sales drag.
- GPS -0.4% after hours.
Sep. 2, 2015, 11:23 AM
- Retail sales are expected to show negative growth in August on a same-store basis, according to analysis from Thomson Reuters.
- The research firm sees a 0.2% decline in retail sales and a full percentage point drop if the drug store sector is backed out.
- Factors that impacted August traffic at stores includes the later Labor Day weekend this year, F/X pain for global sellers, and lower gas prices for chains with pumps.
- Mall retailers are expected to report soft traffic for the month as well as teens continue to be a hard group to pin down with cheap chic replacing margin-rich logo assortment.
- Key retail stocks: COST, GPS, TGT, WMT, ZUMZ, BKE, ARO, AEO, ANF.
- Related ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, PBJ, IYK, IYC, FXD, PEJ, FDIS, RHS, FSTA, SCC, UCC, RCD, PMR, PEZ, UGE, PSL, PSCC, PSCD, SZK
Aug. 26, 2015, 8:53 PM
- Gap (NYSE:GPS) says it is ending a controversial scheduling practice that changed workers’ schedules with little notice, and now plans to give workers at least 10 days notice as part of a push to improve work-life balance.
- The move follows an inquiry by the New York state attorney general's office into the legality of on-call shifts at 13 retailers, including Gap, Target (NYSE:TGT), JC Penney (NYSE:JCP),Abercrombie & Fitch (NYSE:ANF) and TJX Cos. (NYSE:TJX)
- GPS says its five brands - Athleta, Banana Republic, Gap, Intermix and Old Navy - will stop on-call scheduling by the beginning of next year.
- ANF said earlier this month that it would end the practice for all workers paid by the hour, while lingerie retailer L Brands' Victoria's Secret (NYSE:LB) said in June it would end on-call shifts for workers.
Aug. 26, 2015, 5:35 PM
Aug. 20, 2015, 5:39 PM
Aug. 20, 2015, 4:17 PM
- Gap (NYSE:GPS) came in with EPS in-line for Q2, but not without backing out $0.12 per share due to strategic actions.
- Comparable sales growth by brand: Gap Global -6%, Banana Republic Global -4%, Old Navy Global +3%.
- Gap notes it's continuing to invest to have an operating model which can deliver on-trend product. The restructuring will move Gap closer to some fast-fashion rivals.
- Guidance: The company back previous full-year EPS guidance of $2.75-$2.80. Operating margin seen falling 1% in FY15.
- Previously: Gap EPS in-line, misses on revenue
- GPS -0.65% after hours to $33.44.
Gap, Inc. is a global apparel retail company. The company offers apparel, accessories, and personal care products for men, women, children, and babies. It operates in the specialty, outlet, online, and franchise channels. The company operates its business through four reportable segments: Gap... More
Industry: Apparel Stores
Country: United States
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