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WSJ: Gap to Lay Off 500 Workers as it ‘Flattens the Organization’

Retail TouchPoints

The move is part of a larger effort to save about $300 million annually by stripping out layers of management, including eliminating the Chief Growth Officer role. The move is part of a larger effort to save about $300 million annually by stripping out layers of management, including eliminating the Chief Growth Officer role.

Planning 249
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Kanye West seeks to end apparel partnership with Gap

Inside Retail

Shares in the Banana Republic parent closed 3.6 The first product from the line – a blue puffer jacket – sold out within hours of launch in June 2021. Reporting by Deborah Sophia, Uday Sampath and Ananya Mariam Rajesh in Bengaluru; Editing by Vinay Dwivedi, Maju Samuel and Shinjini Ganguli, of Reuters.

Apparel 243
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Frasers vs Next: How big are their growing retail empires?

Retail Gazette

The retail group must have been impressed with ISawItFirst’s CEO Greg Pateras, who it hired to oversee both the brand and its earlier acquisition Missguided , not long after it acquired the brand. Studio Retail Acquired: February 2022 Frasers Group picked up Studio Retail out of administration in a £26.8m

Fashion 64
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Gap quarterly sales decline underlines ‘dire’ state of the business 

Inside Retail

Embattled US fashion company Gap has reported an 8 per cent decline in second-quarter sales to US$3.55 billion, and Banana Republic fell by 11 per cent to $480 million. It means the new CEO will have a baptism of fire as he starts the long hard slog of trying to restore a once iconic company to its former glory.”

Markdowns 130
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10 Ways to Succeed in Retail

Indigo 9 Digital

Last year alone there were 5,079 reported store closures in the United States. Gap, a long-time mall staple, is planning to have 80% of its sales from its Gap and Banana Republic brands come from “off-mall, strip, outlet and online formats” by 2024. By Tricia McKinnon If anyone says being a retailer is easy they are lying.