Gap is and American fashion retailer. Gap also operates brands such as Old Navy and Banana Republic, but only trades in the UK as Gap. Gap was forced to close down all 81 stores in the UK and Ireland between 2019 and 2020, but continues to trade online and via Next stores after the British fashion giant took a 51% stake in 2019. Retail Week provides news, analysis, features and opinion about Gap, Next and the fashion sector.
In the early 1990s, as sky-high interest rates, falling house prices, and an overvalued exchange rate sent the economy into a tailspin, McDonald’s famously slashed its brand marketing budget in a bid to cut costs. Just as famously, it lived to regret that decision.
Asda has hired a new chief people officer who will join from rival Tesco as the Leeds grocer pushes ahead with its turnaround programme.
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Global fashion group Gap Inc, which also owns brands such as Old Navy and Banana Republic, has named Richard Dickson as its new president and chief executive officer, starting on August 22.
Will the hype translate into retail sales? How long will it last? And what’s the next zeitgeist picture you should have on your radar?
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