Gap posts 51% increase in profit

Reports of Gap’s early demise may have been exaggerated. The no. 1 clothing retailer in the US posted a 51% increase in profit on tighter cost controls and inventory management. Amid all the success there were some ominous signs. Same store sales (stores that have been open at least a year) have posted at least a 10% decline and overall a 5% decline. Gap is looking at folding their Baby Gap and Gap kids stores into the adult Gap stores to trim expenses. Analysts chimed in that some fashion missteps from Gap led to customers seeking items from competitors like H&M and Target.

Gap’s turnaround efforts include hiring designers Patrick Robinson and Todd Oldham to reinvigorate the Gap and Old Navy lines. Another initiative put into place is cross shopping through their online stores. Gap now allows checkouts across all brands: Banana Republic, Gap, Piperlime, Old Navy through one shopping cart and with flat rate shipping. Online sales rose 11% as a result.

Tags: Banana Republic, Designer clothing, Gap, Old Navy, Sales

Princess Diana Enjoyed Wearing Long-Johns

London, England (BANG) - Britain’s Princess Diana was “very proud” to wear thermal underwear. The late royal - who died in a car accident in 1997 - enjoyed announcing she was sporting the warm undergarments, according to her fashion designer David Sassoon.
He said: “She was very proud of the fact that she wore thermals because [...]

Princess Diana Enjoyed Wearing Lon-Johns

London, England (BANG) - Britain’s Princess Diana was “very proud” to wear thermal underwear. The late royal - who died in a car accident in 1997 - enjoyed announcing she was sporting the warm undergarments, according to her fashion designer David Sassoon.
He said: “She was very proud of the fact that she wore thermals because [...]

Italian Fashion House Fendi Wins Prestigious Award

Nidhi Sharma - Celebrity News Service Reporter
Paris, France (CNS) - Italian fashion house Fendi has won one of France’s most prestigious media awards for its “Great Wall of China” runway show in 2007.
The Roman fashion house that is best known for its “baguette” handbags, won the Grand Prix for “Opérations événementielles, press, relations publiques,” [...]

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