We visited Gap and Old Navy and saw why one store is totally dominating the other
in the store, threatening margins, and ultimately making shoppers less likely to pay full price. It also offers a lot of the same styles and quality clothing as Old Navy, but for a higher price.
"We are clearly not satisfied with the performance of Gap brand. We know this iconic brand is important to customers, and we are committed to taking the bold and necessary steps to ensure that it delivers value to shareholders," Gap Inc. CEO Art Peck said in the company's earnings release in November.
In late 2018, we shopped at Gap and Old Navy. We saw for ourselves why one store was helping Gap Inc. while the other is hurting it.The first store we went to was Gap, in New York's Financial District. There were two large 50%-off signs in the entryway.
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