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Gap raises outlook as Q2 profit surges 25%; bringing Old Navy to Shanghai
San Francisco -- A resurgent Gap Inc. reported that its second quarter profit jumped 25% on strong sales of denim and other goods at its namesake and Old Navy brands. And bucking a trend set by other retailers, the company raised its full-year earnings guidance. Gap also detailed upcoming expansion plans.
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Jo-Ann appoints SVP for store ops
HUDSON, Ohio — Jo-Ann Fabric and Craft Stores has appointed Tom Williams to SVP of store operations and human resources, replacing Ken Haverkost.
Haverkost announced his retirement as EVP of store operations, a position he held since joining the company in 2007. He will remain a part-time employee through March 2014 to assist in the transition process.