UK: Gap Expected To Reveal Plunge In December Sales
US clothing giant Gap Inc is expected to reveal a 24 per cent drop in worldwide year-on-year sales on Thursday when it releases its December sales figures for its 3,800 stores around the world.
The company, which has 133 shops in Britain, has seen sales decline for 20 consecutive months, with its bonds trading at junk levels and analysts warning it may soon lose its investment-grade credit rating.
A spokeswoman for Gap UK today admitted the company had made design mistakes but was confident it had rectified them in its new spring collection which will hit stores later this month.
Shoppers are promised jeans with leaner legs, well-fitting twill trousers, bomber jackets in denim or khaki twill, trench coats for men and T-shirts with a vintage look.
"We lost focus in the brand," the spokeswoman told the London Evening Standard newspaper on Wednesday. "We were too swept away by trends and lost consistency. We didn't focus on the key items.
"Now our main priority is to get the designs right and keep to the fundamentals like making the stores easy places to shop. "We're confident we will get our momentum back," she added.
Companies: Gap Inc
In this, her second report on Thailand's textile industry, Niki Tait looks at projects aimed at preparing Thai manufacturers for the global market and assesses the sector's post-quota future....
Textiles and clothing make up Thailand's largest manufacturing industry, with more than 4,500 factories employing over one million people. The sector accounts for approximately 20 per cent of total em...
Feet are going to be warm and cosy next winter. Fur, both real and synthetic, was all around at the latest GDS shoe fair in Germany, on the inside and outside of shoes as well as boots, writes Penny L...
Apparel giant Gap Inc has published its 2004 social responsibility report, in which it underscores its ongoing commitment to improving conditions in both its own sourcing base and throughout the globa...
Gap Inc yesterday said sales at stores open at least one year were flat in June, ending seven straight months of same-store sales declines....
Business analytics company Appian Analytics Inc has signed an agreement with clothing giant Gap Inc to provide business analytics and reporting services for monitoring performance across Gap brands in...
Apparel giant Gap Inc says it will open two branches of its Banana Republic chain in Tokyo later this summer....
US apparel giant Gap Inc has reported a slump in first-quarter income, after its namesake division saw poor sales of women's spring collections....
- Why do modern robotics elude sportswear makers?
- Traditional financing is a misfit for fast fashion
- Trump trade policy – Who knows what he'll do?
- Planning is key to an effective inventory strategy
- Bagir CEO says suit-maker is back on track
- US Q3 in brief - G-III Apparel, Express
- Bagir exports first trousers for H&M from Ethiopia
- Film documents Cambodia garment workers' stories
- Esquel efficiency drive continues to boost brands
- Pakistan suspends India cotton imports
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack