Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Old Navy Steps Back from Its All Inclusive Sizing Policy By: Best Stocks May 27, 2022 at 13:29 PM EDT For unclear reasons, the Gap Inc.-owned Old Navy company has decided to pull down its effort to ensure that women’s clothing is more accessible to women of all shapes and sizes. Sonia Syngal, CEO of Gap Inc., said that Old Navy would no longer carry all sizes in its locations. Old Navy will continue to provide the complete range of sizes, from 0 to 30 and XS to 4X, on its website. According to Ms. Syngal, Old Navy has ceased some of their extended size deliveries and is refilling core sizes that were out of stock. She remarked that the disparity in size should be corrected by the fall. Sales and losses at Gap Inc.’s parent company were slashed after an article in detailed the mistakes at Old Navy. After-hours trading saw Gap Inc.’s stock fall by 13 percent. Gap Inc. reported a 13 percent reduction in net sales to $3.5 billion for the three months ended April 30 due to Old Navy’s poor performance. Last year, Gap Inc. had a profit of $166 million. This year, it lost $162 million. Nearly three-quarters of Gap’s revenue and earnings come from Old Navy. In the most recent quarter, sales fell by 19 percent to $1.8 billion, while comparable-store sales fell by 22 percent. Supply-chain delays and increased prices contributed to shortages of clothes, shirts, and pants, notably at Old Navy, which attracts a broader demographic than Gap, Banana Republic, and Athleta. Old Navy, where all sizes of each item are placed together, was especially hard hit by growing inflation and supply chain delays, which reduced customer demand for garments even more. In its 1,200 retail locations, Old Navy ditched the petite and plus-size departments in favor of mannequins with various body shapes to showcase its newest merchandise. Despite industry practice, all sizes of a style are priced the same, defying the practice of merchants charging more for bigger sizes. More small and large-size clothing has been introduced to the lines of companies like Victoria’s Secret & Co. and Target Corporation to create more positive body views. Analysts claim that Old Navy has gone the farthest in its quest to attract consumers of all sizes and shapes to its store. The post Old Navy Steps Back from Its All Inclusive Sizing Policy appeared first on Best Stocks. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Old Navy Steps Back from Its All Inclusive Sizing Policy By: Best Stocks May 27, 2022 at 13:29 PM EDT For unclear reasons, the Gap Inc.-owned Old Navy company has decided to pull down its effort to ensure that women’s clothing is more accessible to women of all shapes and sizes. Sonia Syngal, CEO of Gap Inc., said that Old Navy would no longer carry all sizes in its locations. Old Navy will continue to provide the complete range of sizes, from 0 to 30 and XS to 4X, on its website. According to Ms. Syngal, Old Navy has ceased some of their extended size deliveries and is refilling core sizes that were out of stock. She remarked that the disparity in size should be corrected by the fall. Sales and losses at Gap Inc.’s parent company were slashed after an article in detailed the mistakes at Old Navy. After-hours trading saw Gap Inc.’s stock fall by 13 percent. Gap Inc. reported a 13 percent reduction in net sales to $3.5 billion for the three months ended April 30 due to Old Navy’s poor performance. Last year, Gap Inc. had a profit of $166 million. This year, it lost $162 million. Nearly three-quarters of Gap’s revenue and earnings come from Old Navy. In the most recent quarter, sales fell by 19 percent to $1.8 billion, while comparable-store sales fell by 22 percent. Supply-chain delays and increased prices contributed to shortages of clothes, shirts, and pants, notably at Old Navy, which attracts a broader demographic than Gap, Banana Republic, and Athleta. Old Navy, where all sizes of each item are placed together, was especially hard hit by growing inflation and supply chain delays, which reduced customer demand for garments even more. In its 1,200 retail locations, Old Navy ditched the petite and plus-size departments in favor of mannequins with various body shapes to showcase its newest merchandise. Despite industry practice, all sizes of a style are priced the same, defying the practice of merchants charging more for bigger sizes. More small and large-size clothing has been introduced to the lines of companies like Victoria’s Secret & Co. and Target Corporation to create more positive body views. Analysts claim that Old Navy has gone the farthest in its quest to attract consumers of all sizes and shapes to its store. The post Old Navy Steps Back from Its All Inclusive Sizing Policy appeared first on Best Stocks.
For unclear reasons, the Gap Inc.-owned Old Navy company has decided to pull down its effort to ensure that women’s clothing is more accessible to women of all shapes and sizes. Sonia Syngal, CEO of Gap Inc., said that Old Navy would no longer carry all sizes in its locations. Old Navy will continue to provide the complete range of sizes, from 0 to 30 and XS to 4X, on its website. According to Ms. Syngal, Old Navy has ceased some of their extended size deliveries and is refilling core sizes that were out of stock. She remarked that the disparity in size should be corrected by the fall. Sales and losses at Gap Inc.’s parent company were slashed after an article in detailed the mistakes at Old Navy. After-hours trading saw Gap Inc.’s stock fall by 13 percent. Gap Inc. reported a 13 percent reduction in net sales to $3.5 billion for the three months ended April 30 due to Old Navy’s poor performance. Last year, Gap Inc. had a profit of $166 million. This year, it lost $162 million. Nearly three-quarters of Gap’s revenue and earnings come from Old Navy. In the most recent quarter, sales fell by 19 percent to $1.8 billion, while comparable-store sales fell by 22 percent. Supply-chain delays and increased prices contributed to shortages of clothes, shirts, and pants, notably at Old Navy, which attracts a broader demographic than Gap, Banana Republic, and Athleta. Old Navy, where all sizes of each item are placed together, was especially hard hit by growing inflation and supply chain delays, which reduced customer demand for garments even more. In its 1,200 retail locations, Old Navy ditched the petite and plus-size departments in favor of mannequins with various body shapes to showcase its newest merchandise. Despite industry practice, all sizes of a style are priced the same, defying the practice of merchants charging more for bigger sizes. More small and large-size clothing has been introduced to the lines of companies like Victoria’s Secret & Co. and Target Corporation to create more positive body views. Analysts claim that Old Navy has gone the farthest in its quest to attract consumers of all sizes and shapes to its store. The post Old Navy Steps Back from Its All Inclusive Sizing Policy appeared first on Best Stocks.
