Gap, Inc.

San Francisco  -- Gap Inc. is looking to add a little pink magic to its product design — and is bringing back a company veteran to do it. The retailer has named Wendi Goldman, creator of Victoria’s Secret “Pink” marketing/merchandising campaign, as executive VP of product design and development, effective March 16.

Gap Inc. is raising its profit guidance based on its fourth-quarter sales and reduced taxes.

The retailer says it expects to report a profit of $2.86 to $2.87 per share for the year, up from its previous estimate of $2.73 to $2.78 per share. Analysts expected $2.74 per share on average.

The San Francisco company says its total fourth-quarter sales grew 3% to $4.71 billion compared with $4.58 billion for the fourth quarter last year.

San Francisco -- Gap Inc. raised its annual profit guidance based on its fourth-quarter sales and reduced taxes. The retailer expects to report a profit of $2.86 to $2.87 per share for the year, up from its previous estimate of $2.73 to $2.78 per share.

Gap reported that its net sales increased 3% for the quarter, to $4.71 billion compared with $4.58 billion for the fourth quarter last year. Same-store sales rose 2%.

San Francisco – Sabrina Simmons has been elected to the board of directors of Williams-Sonoma Inc. Simmons has served as executive VP, CFO of Gap Inc. since January 2008.

Gap Inc. has implemented yet another management shake-up, this time eliminating its creative director.

Rebecca Bay, whom the apparel retailer brought in from Hennes & Mauritz in September 2012 to help revive its namesake brand, has left the company.

The retailer also said that it has named Gap Inc. veteran Scott Key as general manager of customer experience, overseeing a newly created e-commerce and marketing organization, as the company aims to sharpen its focus on customers.

San Francisco -- Incoming Gap Inc. CEO Art Peck is wasting no time reshaping the apparel giant. In its latest management shakeup, the retailer named company veteran Scott Key to the new position of senior VP and general manager of customer experience for its namesake brand. It also announced that Rebekka Bay, creative director for the Gap brand, was departing the company, effective immediately.

The latest changes come on the heels of Gap’s announcement last week that it was shutting down its Piperlime brand.

At a time when omnichannel retailing is more important than ever for retailers, Gap Inc. is shutting down one of its digital brands.

Gap Inc. said it is dropping its Piperlime channel so the apparel maker and retailer can focus on fixing the problems plaguing the Gap and Banana Republic brands.

San Francisco -- Gap Inc. is shutting down its Piperlime business. The company plans to close the brand’s online platform and single store in New York, by the end of the first quarter of fiscal year 2015.  

The decision comes as Abe Peck, who has led Gap’s growth, innovation and digital unit, gets ready to step into the CEO suite next month.

“We plan to keep on pushing new ideas and look forward to seeing how we can apply what we’ve learned to the rest of the company,” Peck said in a statement.