Gap Inc. CEO optimistic
25/11/2024
Sales in stores decreased by 2% while online commerce was up 7% compared to last year, and now represents 40% of total net sales.
Old Navy’s third quarter sales lifted by 1% at $2.2 billion. Gap’s revenues ($899 million) were also up 1% (or 3% when comparing quarters with the same number of weeks), which could signal that the group’s plan to revitalise the brand is beginning to show. Banana Republic’s revenues grew 2% at $469 million, and increased 4% at Athleta, which the group also attributes to successful new product and marketing.
“Consistent execution of our strategic priorities, including the rigor and repetition we’re applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.’s full potential,” commented Richard Dickson, the group’s president and CEO.
Image courtesy of Gap Inc.
Share this story:
