Gap, Old Navy and Banana Republic (2009)
THE REASON: In the fourth quarter of 2008, Gap Inc. had less than a 6% operating margin on $4.1 billion in revenue. In other words, sais 24/7 Wall St., if same-store sales at the company continued to drop 15% month after month, Gap was going to run into problems. Old Navy was still the weakest brand of the lot. Gap will have to close it down.
TODAY: Old Navy is the strongest of Gap Inc.’s links. In June, Old Navy’s global sales were up 7%. Gap and Banana Republic’s sales were both down 7%. The company has continued its progress toward bridging the growing digital world with its physical stores, including expansion of its reserve in store capabilities to all U.S. Banana Republic stores and more than 200 Gap stores in 15 major U.S. markets.
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