Gap Inc. has announced its fourth quarter earnings on Thursday. The clothing retailer has represented a comparative feature with its year ago performances. It has also predicted for weaker earnings during the current year.
The Gap Inc (Gap Inc) share fell over five percent to $27.69 and later rebounded to $28.45 a share on funds buying support on New York Stock Exchange (NYSE).
Gap Inc (GPS.N) has struck a deal with Europe's largest dedicated online fashion retailer Zalando (ZALG.DE) to sell its core brand from next May, hoping to reach more consumers, particularly in markets where it has no physical stores.
Gap Inc (GPS.N) Chief Executive Glenn Murphy will retire in February and hand over the reins of the apparel retailer to its digital business head Art Peck, as the company looks to tap customers' increasing preference for online shopping.
Apparel retailer Gap Inc raised its full-year profit forecast, encouraged by strong sales of its lower-priced Old Navy clothes, and said it would open 40 stores in India as part of its strategy to expand in emerging markets.
As they open their first Old Navy store in China, Gap Inc will be increasing its efforts to promote their brand online so it can capitalize on the country's fast-growing e-commerce sector, Reuters reported.
The largest clothing retailer in the US is set to enter the Indian market through a joint venture with Arvind Brands, according to sources interviewed by The Economic Times.
Japan's Fast Retailing Co. is planning a secondary public offering in the Hong Kong Stock Exchange next year. If successful, the Tokyo-listed retail holding company would become the third Japanese company to list in Hong Kong.
Bank of America CEO Brian Moynihan and Federal Reserve Board Governor Jerome Powell will be among bank executives and regulators speaking at an industry conference in New York hosted by The Clearing House Association, which represents interests of the biggest commercial banks.
Wal-Mart, together with other North American companies, banded together to create the Alliance for Bangladesh Worker Safety.
Gap and Urban Outfitters showed top earnings in retail apparel.
Ariat International is being sold to its management and the Fisher family.