Gap, Inc.

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.

St. Petersburg, Fla. -- HSN, Inc. has appointed John Aylward as executive VP and chief marketing officer for HSN, an operating division of the $3.6 billion interactive multichannel retailer.

Washington, D.C. – The National Retail Federation (NRF) and Gap Inc. are both asking Congress to approve legislation that would reauthorize Trade Promotion Authority (TPA), saying such authority is critical to advancing free trade agreements.

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

Gap Inc. reported that net sales for the five-week period ended April 4 increased 1 percent to $1.53 billion compared with net sales of $1.51 billion for the five-week period ended April 5.

San Francisco – Strong same-store sales growth at Old Navy helped drive a 1% increase in net sales at Gap Inc. to $1.53 billion in March 2015, compared with net sales of $1.51 billion for the same month the previous year.

Gap Inc.’s overall same-store sales were up 2%. The company said that the earlier timing of the Easter holiday peak shopping weeks in 2015 benefited March sales results and will likely negatively impact its April sales results.

PetSmart Inc. is looking to drive growth with six new executive appointments focused in the areas of customer experience, merchandise planning, strategy, initiatives, sourcing and real estate.

The additions to the senior leadership team reflect the first major hires by PetSmart’s newly installed president and CEO, Michael Massey.

Ascena Retail Group has named Brian Lynch, a 35-year fashion and retail industry veteran, as president and CEO of its Justice stores<span style="color: rgb(54, 54, 54); font-family: open_sansregular, Arial, Helvetica, sans-serif; fo