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Old Navy sails ahead as other Gap brands sink
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.
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Macy’s new Macy’s Backstage off-price format to open four pilot stores in fall
Cincinnati -- Macy’s will debut its off-price business in fall 2014, opening four stores in metro New York City. The new business, one of the department store giant’s major growth initiatives, will be called Macy’s Backstage.
