Gap Inc. comeback plans couldn’t revive sales

Endaba Group

Gap Inc. shares have plummeted by 15% in late trading as 3 of its brands continue to report weak sales. Despite CEO Art Peck claiming that the company would show signs of a turnaround by this season, Gap, Banana Republic and even Old Navy’s same-store sales have all decreased compared to a year ago. Gap have said they are identifying opportunities to streamline operations, and also evaluating Banana Republic and Old Navy stores outside of North America. This streamlining will allow the company to function more efficiently and flexibly – both essential in today’s fast-paced market!