Gap Inc. Chief Executive Officer Glenn Murphy has spent three years cutting costs and boosting profits. During that time the stock has barely budged.
Gap Inc., the biggest U.S. specialty-apparel retailer, posted a 25 percent increase in second-quarter profit as new denim and athletic products boosted sales at its namesake and Old Navy chains.
Gap Inc. , the largest U.S. apparel chain, posted a 3.7 percent gain in fourth-quarter profit, beating analysts’ estimates, as international sales spurted.
Gap Inc., the owner of Old Navy, Banana Republic and its namesake apparel chain, will raise its hourly pay for U.S. employees to $9 in 2014 and $10 next year, saying it wants to “do more than sell clothes.”
"While we were disappointed in our October sales results, particularly at Gap, we look forward to presenting our improved product collections for the holiday season across all our brands."
- Glenn Murphy on Nov 06, 2014
Les Berglass Says Gap Needs to Make Consumers Happy (Audio)