Gap profits soar while Old Navy haemorrhages sales

Beleaguered US fashion group Gap has suffered a like-for-like sales dive in its first quarter, with chief executive Glenn Murphy describing the retail climate as “one of the toughest” in recent memory, despite profits soaring 40 per cent over the period.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.