Gap, Inc.

Gymboree Corp. has tapped the former chief of Tilly’s executive as the children’s clothing retailer’s new CEO.  

Gap Inc.’s reported a 12% jump in first quarter profit amid another strong performance from its Old Navy division.    Net income rose to $143 million, or 36 cents per share, in the quarter ended April 29, from $127 million, or 32 cents per share, a year earlier. Its results easily beat the Street, which had predicted earnings of 29 cents per share.   

Retailers concerned over the pending border-adjusted tax have boosted their lobbying efforts in Washington.   Target Corp., Gap Inc., and Best Buy Co. Inc. spent nearly $3.2 million combined on lobbying during the quarter – as opposed to just $830,000 in the same period a year ago – according to federal lobbying disclosures filed Thursday, Bloomberg reported, while Wal-Mart spent almost $2.2 million in the first quarter, an increase of $140,000 over the same time last year.   

A veteran retailer has been named co-chairman of Lululemon Athletica.   The retailer has appointed Glen Murphy to its board as co-chairman, effective immediately.    Murphy served as chairman and CEO of Gap Inc. from 2007 to 2014. Prior to that, he was CEO of Canadian drugstore chain Shoppers Drug Mart. Currently, Murphy is head of FIS Holdings, where he is responsible for leading the high-impact consumer-focused investment firm deploying a combination of operating guidance and capital flexibility.

President Trump’s real estate compadres at CBL and Horizon Group are no doubt hoping he holds off on building that wall.   The companies opened The Outlet Shoppes in the Texas border town of Laredo this week and report experiencing high traffic and sales volumes, in large part due to Mexica shoppers flocking to the site.  

Coach Inc. has tapped a 26-year fashion veteran to lead the company as its expands its brand portfolio.   Joshua Schulman has been named president and CEO of the Coach brand, effective June 5. In this newly created role, Schulman will be responsible for all aspects of the brand globally, reporting directly to Victor Luis, CEO of Coach, Inc. This new leadership structure follows the 2015 acquisition of Stuart Weitzman, and is an important step in Coach, Inc.’s evolution as a customer-focused, multi-brand organization, the retailer said.

It’s a homecoming of sorts for Mark Breitbard.     Gap Inc. on Tuesday named Breitbard as president and CEO of its struggling Banana Republic division.       Breitbard served as CEO at The Gymboree Corporation from 2013 until he stepped down in early 2017. From 2010 to 2013, he held leadership positions across Gap North America, where he was instrumental in delivering the product-led resurgence of Gap’s North America business.    

Lands’ End has a new person at the top.   Jerome Griffith has officially taken the reins as CEO of the company, and also joined the board of directors. He succeeds Joseph Boitano and James Gooch, who have served as co-interim CEOs since September 2016, when CEO Federica Marchionni was forced out after less than two years amid an ongoing sales slump.