Gap, Inc.

San Francisco – Gap Inc. reported disappointing sales for April and the first quarter, hurt by fluctuations in foreign currency exchange and sliding sales at its namesake and Banana Republic divisions. Also, earlier timing of the Easter holiday, as compared to 2014, benefited the company’s March sales results and negatively impacted its April sales results.

Total same-store sales fell 12% in April, worse than predicted. Sales at Old Navy declined 6%, while sales at Banana Republic plunged 15%. Same-store sales for Gap fell 15%.

Surging sales at Old Navy helped Gap Inc. offset sales declines at its namesake division and its Banana Republic stores in the first quarter.

Gap Inc. reported that for the first quarter of fiscal 2015, Gap Inc.’s net sales decreased 3% to $3.66 billion compared with $3.77 billion for the first quarter last year.

New York -- Andy Dunn, the founder of the hot online menswear retailer Bonobos, is transitioning from CEO to executive chairman. Dunn, who founded the company in 2007, has named retail veteran Francine Della Badia to serve as CEO starting June 1.

Della Badia most recently served as president of North American retail at Coach, leaving in February. She also held positions with Victoria’s Secret, J.Crew and Gap Inc.

Gap Inc. is teaming up with popular TV host Ellen DeGeneres and her lifestyle brand ED on a unique fashion range that is designed to empower girls.

The new collection, GapKids x ED, will be an apparel collection and social movement designed to help all girls realize they have the power to do extraordinary things, the company says. The collection will be available for purchase starting Aug. 17 through Gap.com, in all GapKids stores in the United States, and select stores in Canada, United Kingdom, China and Japan.

Global Brands Group named former Ann Taylor and May Company executive Adrienne Lazarus as CEO of The Frye Company, one of the holding company’s premier controlled brands and what Lazarus contends could become an American global lifestyle brand.

The company said the appointment of a veteran retailer such as Lazarus reflects a strategic focus on the 150 year old brand.

New York -- Global Brands Group has named former Ann Taylor and May Company executive Adrienne Lazarus as CEO of The Frye Company, one of the holding company’s premier brands.

New York -- A major new credit agreement has been secured by the 262 store Hancock Fabric chain with Wells Fargo Capital and the newly formed Great American Capital Partners subsidiary of B. Riley Financial.

The new financing deal, executed a year and a half before an existing credit facility was due to expire, provides the struggling Hancock Fabric chain with a new five year, $100 million asset-backed credit facility from Wells Fargo and a $17.5 million term loan from Great American.

HSN Inc. has appointed a new chief marketing officer to drive growth for the $3.6 billion multichannel retailer. 

The company named John Aylward as executive VP and chief marketing officer for HSN.