Marketing

San Francisco — Gap Inc. posted an 8% decline in its first-quarter profit amid currency fluctuations, merchandise delays from the West Coast ports slowdown, and sluggish sales at its namesake and Banana Republic stores. On a positive note, Old Navy continued its strong performance. 
 

Chico's CEO David Dyer, who laid "the foundation for global expansion," will retire next spring, the company announced.

Macy’s is out to prove that bigger is better again this July 4 by sponsoring a fireworks display so massive that barges positioned at two locations on the East River in Manhattan are required to launch 40,000 shells.

The 39th annual pyrotechnic extravaganza is scheduled to last 25 minutes and be seen live by an estimated three million people from viewable locations along the shorelines of Manhattan, Queens and Brooklyn.

Office Depot is seeking to attract more veterans and their families to its stores with a new discount program.

The retailer is teaming up with Veterans Advantage to reward active duty and retired military, veterans, National Guard and Reserve, and their families with a 20% discount on office supply purchases. Veterans Advantage discounts are available every day on regularly-priced items and can be combined online with the company’s standard free delivery on qualifying purchases of $50 or more within our local delivery areas.

Build-A-Bear Workshop is aiming to leverage the popularity of "Minions" with a new, interactive and customizable plush toy collection.

The CEO of Gap Inc. says efforts to improve "product acceptance" at Gap and Banana Republic stores is a work in progress that continues to drain on the company's financial results, which included an 8% decline in its first-quarter profit.

Former Sears and Walgreens finance executive Atul Kavthekar is joining LivingSocial as CFO to help execute the e-commerce company’s ongoing re-invention strategy.

Foot Locker has "hit the ground running in 2015," according to CEO Richard Johnson, adding that the company posted a better-than-expected 14% increase in profit in its first quarter as the sportswear retailer continues to benefit from sales growth.

Tampa, Fla. -- Ashley Furniture Industries announced that it is establishing, through its wholly owned subsidiary, Ashcomm LLC, its U.S. e-commerce headquarters in Ybor City.

The headquarters office will occupy 70,000 sq. ft. of space in Centro Ybor in the heart of Tampa’s historic business and entertainment district. It will eventually house more than 100 employees in executive, administrative, marketing, design, and information technology positions for both the e-commerce business as well as other Ashley corporate operations.
 

Columbus, Ohio -- L Brands Inc. continued its winning ways in its first quarter, reporting better-than-expected earnings. The parent company of Victoria’s Secret and Bath & Body Works also lifted its earnings forecast for the full year, but issued a weak forecast for the current quarter.

L Brands’ net income increased 59% to $250.47 million from $156.98 million in the year-ago period.

Net sales grew 5% to $2.51 billion from $2.39 billion last year.

Same-store sales rose 5%.