While J.C. Penney, J. Crew, and Neiman-Marcus were largely forced into bankruptcy by the arbitrary nature of which stores were deemed essential and allowed to remain operational, the situation with Gap isn't so dire. Rich Duprey has no position in any of the stocks mentioned.
Tapestry Inc Chief Executive Officer Jide Zeitlin has been negotiating lower rents for the company's Coach and Kate Spade stores for more than a month, using the brands' power to draw in U.S. mall traffic as leverage in tough talks with landlords. Mall operators collected only 15% of April rent and trends are looking worse for May, according to CenterSquare Investment Management, which specializes in real estate. After a decade of change that has shaken up the U.S. retail landscape and driven some out of business, Zeitlin says mall rents need to fall anyway for retailers' brick-and-mortar strategies to make sense.
Today, children’s fashion brand Janie and Jack debuts its ‘Think Pink’ campaign to launch their new collection that supports breast cancer research and women diagnosed with the disease. The Think Pink Collection benefits The Pink Agenda, a nonprofit committed to raising money for breast cancer research and granting wishes through FAB-U-WISH™, an initiative established by breast cancer survivor and TV personality Giuliana Rancic, which helps women undergoing treatment feel their best. Inspired by stories within the company, Janie and Jack has partnered with a team of survivors and activists to launch the campaign. In addition to Janie and Jack employees and customers, Tamera Mowry-Housley, who lost her grandmother to breast cancer last year, joins the campaign to amplify the charitable partnership. The campaign shares their experiences with breast cancer in an effort to inspire hope and educate on preventative measures. Janie and Jack and The Pink Agenda will grant wishes across the country through FAB-U-WISH to recognize deserving moms and their inspiring breast cancer fight. To further support the cause, from May 10th through June 21st, 2020, the Janie and Jack Think Pink collection will donate 25% of sales to The Pink Agenda and FAB-U-WISH and collect donations from customers at checkout, with a minimum donation of $250,000.*
Old Navy has been clothing American families since 1994, and recognizes that the need to serve families has never been greater. The COVID-19 crisis has left many Americans struggling to provide basic necessities for their families. In response, Old Navy is donating over $30 million of clothing to American families in need.
Shares of several retail-chain operators were falling along with the broader market on Wednesday, after Federal Reserve Chairman Jerome Powell signaled his growing concern about the current downturn in the U.S. economy. Designer Brands (NYSE: DBI) was down 6.8%. The Gap (NYSE: GPS) was down 5.8%.
U.S. apparel chain Gap Inc
Shares of several retail-chain operators were trading higher on Monday, amid a broad-based market rally driven by promising news from an early COVID-19 vaccine trial. While the data is very preliminary, and an approved, mass-produced vaccine is still many months away (at best), investors took it as good news and bid up shares of many companies that have been hit hard over the last couple of months. American Eagle Outfitters said in early May that it had reopened 43 of its brick-and-mortar stores and that it planned to have about 600 locations open by the end of May. The company raised a bit over $400 million via a bond offering in late April to bolster its balance sheet until all of its stores reopen.
The company said it would commit to a quarterly dividend and fully expects its tenants to honor their lease commitments.
U.S. retailers are slowly reopening. Here is an updated list.
Yahoo Finance catches up with V.F. Corp CEO Steve Rendle to discuss how the owner of Timberland and Vans is navigating the chopping retail environment.
Although Gap (NYSE: GPS) is well-known for its jeans, khakis, and clothing styles for everyone in the family, it just announced a new branding deal with global licensing firm IMG to expand its product line beyond apparel and head into home decor, textiles, furniture, baby equipment, and baby care. While Gap is under pressure due to the coronavirus pandemic, transforming into a department store just as that segment of retail looks poised to collapse hardly seems like the transformative plan the retailer needs. There is an argument to be made for expanding beyond the confines of a niche you have fully explored, but while Gap might have had grounds to argue it was a "lifestyle brand" a few years ago, consumers have been abandoning its stores in such droves that it can no longer credibly make that case.
Shares of several apparel and home-goods chains rose on Tuesday afternoon, as continued store reopenings and recovering economic activity gave retail-focused investors reasons for optimism. Designer Brands (NYSE: DBI) was up 13.5%. Gap (NYSE: GPS) was up 8.8%.
Several department store and apparel chain operators were trading lower on Tuesday morning after Kohl's (NYSE: KSS) reported a larger-than-expected loss for the quarter that ended on May 2. Gap (NYSE: GPS) was down 4.5%. Kohl's was down 9.4%.
Dow Jones Recovers, Ralph Lauren advances on fourth-quarter results Continue reading...
Shares of Applied Materials fall on weak earnings Continue reading...
Shares of several brick-and-mortar retailers were trading higher on Wednesday morning as the broader market rallied for a second day on rising optimism about the post-pandemic economy. Designer Brands (NYSE: DBI) was up 5.2%. Gap (NYSE: GPS) was up 5.5%.
U.S. apparel chain Gap Inc is speeding up its rollout of warehouse robots for assembling online orders so it can limit human contact during the coronavirus pandemic, the company told Reuters. "We could not get as many people in our distribution centers safely," said Kevin Kuntz, Gap's senior vice president of global logistics fulfillment.
The U.S. Treasury is gearing up to auction a $3 trillion in debt to finance the growing federal budget deficit. Charles Schwab Chief Fixed Income Strategist Kathy Jones joins Yahoo Finance’s Seana Smith to discuss.
Gap Inc. (NYSE: GPS) will hold the company’s Annual Meeting of Shareholders in a virtual-only format due to the heightened concerns around the COVID-19 pandemic and the current shelter-in-place order in California. The meeting will be held on May 19, 2020 beginning at 10:00 a.m. Pacific Time at www.virtualshareholdermeeting.com/GAP2020. A webcast replay will be available through www.gapinc.com for at least 30 days following the meeting.
Gap Inc. (NYSE: GPS) will report its first quarter 2020 earnings results by press release on June 4, 2020 at 1:15 p.m. Pacific Time.