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☆ These stocks are well positioned for when the Federal Reserve starts cutting rates, Barclays says
▼ + stars: | 2024-02-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

This would likely push the Federal funds target range to between 4.5% to 4.75% by the end of this year, he said. Take a look at the stocks Barclays thinks are best-positioned for lower rates later this year. Darden Restaurants is one of the consumer names Barclays believes can outperform when the Fed loosens rates. Clothing retailer Gap is another stock Barclays believes will be a rate-cut cycle winner. GPS YTD mountain The Gap shares in 2024 Agribusiness company Bunge also made the cut.

Persons: Terrence Malone, Malone, Jeff Bernstein, Bernstein, Jason Goldberg, Goldberg, Adrienne Yih, Bunge, Ben Theurer, —, Michael Bloom Organizations: Barclays, Darden, Olive Garden, LongHorn, Fifth, Bancorp, Old Navy, Banana, Analysts, Bunge Locations: Olive, Banana Republic

☆ I went to 3 Gap stores in New York City and saw firsthand why the 'tired' company needs a revamp
▼ + stars: | 2024-01-21 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +8 min

Once known as a staple American mall brand, Gap lost its relevance among consumers who traded shopping centers for e-commerce. "Gap brand, as you know, has tremendous heritage as a pop culture brand," Dickson told investors. Jennifer Ortakales Dawkins/Business InsiderGap's design team is playing it too safe for today's competitive market. Jennifer Ortakales Dawkins/Business InsiderOn that note, Gap could be doing a lot more to market to younger generations. Jennifer Ortakales Dawkins/Business InsiderBriggs suggests brands like Gap go where their younger customers spend much of their time: TikTok, YouTube, and Instagram.

Persons: —, Richard Dickson, Dickson, Ellyn Briggs, Barbie, Neil Saunders, Jennifer Ortakales Dawkins, Briggs, Gen Zers, Gen, Gen Z, Piper Sandler's Organizations: Service, Mattel, Morning, New York City, Grand Central, Free, Nike, Alpha, Teens, Times, YouTube Locations: New York City, New York, Grand

☆ 'You barely knew what we were actually selling': Gap CEO Richard Dickson on the brand's heavy discount strategy
▼ + stars: | 2023-12-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

New Gap CEO Richard Dickson has spoken about his experience upon joining the struggling company from toy business Mattel in August. "You barely knew what we were actually selling," he said on Wednesday, describing how the firm's four apparel brands had leant heavily on promotions and discounts. Dickson was addressing an audience at Voices, a conference organized by apparel industry website The Business of Fashion, in Oxfordshire, U.K. Displayed behind him on stage was a screenshot of Gap's website where money-off messages were a prominent part, which Dickson said was typical of the company's brands "a few months ago." Dickson took on the CEO role at Gap after an almost 10-year tenure at Mattel, where he was president and chief operating officer.

Persons: Richard Dickson, Dickson, it's, Gap, Barbie Organizations: Mattel, Fashion Locations: Oxfordshire

Shannon Brandt, of Glenfield, North Dakota, pleaded guilty in May to manslaughter in connection with Cayler Ellingson's death in September 2022, in McHenry, North Dakota. Brandt initially claimed he ran Ellingson over after a political argument and that the teen had threatened him and was part of a radical group, according to court documents. Political Cartoons View All 1148 ImagesHe was initially charged with criminal vehicular homicide, which was later dropped. Brandt had also been charged with leaving the scene of the fatality, since dismissed in a plea deal. Brandt called 911 and told a dispatcher he had hit a man with his vehicle and requested an ambulance, according to the court document.

Persons: Donald Trump, ”, Shannon Brandt, Cayler, Brandt, Trump, Ellingson, Kara Brinster, “, Brinster, Mark Friese, It's, Friese Organizations: N.D, Republican, Associated Press Locations: BISMARCK, North Dakota, Glenfield , North Dakota, McHenry , North Dakota, Glenfield

☆ Gap hires Mattel president Richard Dickson to be its new CEO
▼ + stars: | 2023-07-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

New York CNN —Gap has named a new CEO, from toy giant Mattel, nearly a year after its previous leader departed. The retailer announced Wednesday that Richard Dickson, currently Mattel’s president and chief operating officer, will assume the position. First the president of the Gap division and later CEO of the company beginning in 1995, Drexler pushed Gap to expand beyond jeans into khakis and oversaw the creation of the budget-chain Old Navy in 1994. It doesn’t help that Old Navy and Banana Republic are also struggling, adding to Dickson’s challenges. In short, being CEO of Gap is not for the faint of heart,” Saunders said.

Persons: Richard Dickson, He’s, Dickson, ” Dickson, Barbie, Neil Saunders, GlobalData, ”, Chris Blakeslee, Alo Yoga, West, Sonia Syngal, Mickey Drexler, Drexler, Paul Pressler, Glenn Murphy, Peck, Syngal, ” Saunders Organizations: New, New York CNN, Mattel, Jones New, Warner Bros, CNN, Athleta, Republic, Kanye West, Navy, Disney, Gap, Banana Republic Locations: New York, Jones New York, Zara, North America, Peck

☆ Singapore's 'squeaky clean' image takes a beating as scandals rock the government
▼ + stars: | 2023-07-19 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

watch nowOn Monday, Singapore's Prime Minister Lee Hsien Loong said he decided the incumbent speaker of the Singapore's Parliament Tan Chuan Jin "had to go." Lee Hsien Loong Singapore prime ministerSingaporeans, who are not used to political scandals, have taken to memes to express themselves. Singapore Prime Minister Lee Hsien Loong (L) shaking hands with a PAP supporter during a May election rally. SIMIN WANG | AFP | Getty ImagesThe prime minister sought to quickly control the damage, emphasizing the government's zero-tolerance on corruption to allay public concerns. The prime minister is seeking to hand over power to the next generation of leaders in the near future.

Persons: Lee Hsien Loong, Dr Koh Poh Koon, Ang Mo, Suhaimi Abdullah, Eugene Tan, Tan Ern Ser, Tan Chuan Jin, Tan, Cheng Li Hui, SMU's Tan, CNBC's, Ong Beng Seng, Felix Tan, NTU's Tan, SIMIN WANG, Lee Organizations: Action Party, Getty, Singapore Management University, CNBC, Party, National University of Singapore, Singapore's, Public Service, Nanyang Technological University, NUS, Singapore, AFP Locations: SINGAPORE, Singapore, Asia, Lee Hsien Loong Singapore

☆ Gen Z Fast Fashion, Live Shopping, Clothes Addiction Destroying Planet
▼ + stars: | 2023-05-17 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

The Gen Z paradoxGen Z's economic power is growing faster than other generations, according to Bank of America. In the US, fashion is the preferred category for entertainment spending among Gen Z, outranking dining out, video games, and music. A 2021 McKinsey survey found that 42% of American Gen Zers said they didn't even know what makes clothes sustainable. In addition to pushing people to buy more clothes, the buy-now, think-later model of live shopping also encourages people to buy clothes that are worse for the planet. To solve that problem, she founded Viviene New York in 2022, a Gen Z-led marketing agency that helps sustainable brands connect with Gen Z audiences through social media.

NEW YORK, April 26 (Reuters) - Fast Retailing's (9983.T) Uniqlo plans to expand its existing stores in North America by 10%, according to one of its executives. Fast Retailing reported a 16.4% rise to 220 billion yen ($1.65 billion) in first-half operating profit earlier this month. The company also raised its full-year profit forecast to 360 billion yen ($2.7 billion) from 350 billion yen ($2.63 billion). Daisuke Tsukagoshi, Uniqlo North America chief executive, said in an email to Reuters that the chain chose to launch the Ottawa and Calgary stores after seeing a "strong online presence" there. Sweden's fast fashion giant H&M has more than 738 stores in North and South America as of February 2023, according to the retailer's website.

☆ Old Navy’s response to slumping sales: More pockets
▼ + stars: | 2023-04-04 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Old Navy, known for its low-priced basic and trendy seasonal clothing, has adopted an interesting sartorial tactic amid sinking sales. The new dress styles with pockets rolled out into Old Navy stores this month and the retailer said it will also increase the number of summer dresses with pockets. As such, it is a good move for Old Navy to add them,” said Neil Saunders, retail industry analyst and managing director of GlobalData. Old NavyOld Navy’s fourth-quarter sales fell 6% over the previous year, while sales at its stores open at least a year fell 7%. Specifically, Old Navy and Gap brands both said shoppers were pulling back their spending on babies’ and kids’ items.

☆ Gap Inc. launches its store on Amazon
▼ + stars: | 2022-11-10 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNNBusiness —Gap announced Thursday that it has officially launched its store on Amazon. While shoppers were able to buy Gap merchandise on Amazon previously through third-party sellers, the new partnership with Amazon Fashion marks the first time that Gap itself is selling its products on the online marketplace. The items, available for purchase beginning today on Amazon US and Amazon Canada, include the basics that Gap is known for — hoodies, T-shirts, denim, socks, underwear and sleepwear for adults, kids and infants. Gap (GPS) Inc. said its Amazon store will also include Baby Gap (GPS)-branded items such as nursery furniture, strollers, bassinets and cribs. None of the Gap items are exclusive to Amazon (AMZN), however, and will also be available for purchase in Gap stores and on Gap.com.

☆ Corporate America is canceling Kanye West
▼ + stars: | 2022-10-25 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

Ye, also known as Kanye West, has become a controversy magnet. Later, West threatened on Twitter to “Go death con 3 on JEWISH PEOPLE.”Since Ye’s antisemitic comments, businesses have come under pressure to take further action against him. You still might see Yeezy Gap merchandise on the Gap site, though. BalenciagaKanye’s antisemitic comments were also the final straw for luxury fashionhouse Balenciaga, which severed ties over the weekend. He had collaborated with Balenciaga for a wildly popular Yeezy Gap line earlier this year.

☆ Balenciaga cuts partnership with Kanye West
▼ + stars: | 2022-10-21 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN Business —Fashion powerhouse Balenciaga has officially severed ties with Kanye West following a series of antisemitic posts and other controversial comments from the rapper, according to a report from Women’s Wear Daily citing a statement from Balenciaga’s parent company. “Balenciaga has no longer any relationship nor any plans for future projects related to this artist,” Kering, Balenciaga’s parent company, said in a statement to WWD. West, who legally changed his name to Ye, collaborated with Balenciaga for a wildly popular Yeezy Gap line earlier this year. In a now-deleted tweet, West said he was “going death con 3 [sic] On JEWISH PEOPLE,” according to Internet Archive’s Wayback Machine records pulled by CNN. Recently, Ye announced plans to acquire Parler, a far-right social platform, to prevent having “to fear being removed from social media again.”

The company can sell existing Yeezy Gap stocks until the sell-off period, the letter said. West, known as Ye, in 2020 signed a 10-year deal with Gap to create a line of clothing under the Yeezy Gap brand. 1/2 Rapper Kanye West talks on the phone before attending the Versace presentation in New York, U.S. December 2, 2018. Ties between West and Gap have been increasingly strained recently. Gap has been struggling to protect margins and pull in sales, blaming inflation and outdated styles at its Old Navy brand.

☆ Kanye West says he’s terminating his partnership with the Gap
▼ + stars: | 2022-09-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

“We wanted to address the headlines of today and the past several weeks related to Yeezy Gap. And we are deciding to wind down the partnership,” Mark Breitbard, president and CEO of Gap Brand, said in the email. As it now moves to wind down the partnership, Gap said existing merchandise from Yeezy Gap will continue to be sold in the company’s stores and its website. West also said that Gap was required to sell 40% of Yeezy Gap products in its retail stores, which hasn’t materialized, according to The Wall Street Journal. “While Kanye could have injected a dose of energy into Gap, the incompatibility of the two visions meant that frustrations were inevitable.

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