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Search resuls for: "Richard Dickson's"


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After Gap 's earnings report topped Wall Street's expectations on Thursday, CEO Richard Dickson told CNBC's Jim Cramer how his company is managing to turn its business around. "We've been reigniting this brand and drawing on what the brand was so special in the first place, really taking on trend products and amplifying it in new ways that only Gap can," he said. "We're using music, we're using fashion as entertainment, and we're taking basic product—linen, denim, wovens, pants—and we're amplifying the narrative around these categories and driving share growth." In addition to its namesake brand, Gap owns brands including Old Navy, Banana Republic and Athleta. "Zac's creative expertise, his cultural clarity, it's consistently evolved American fashion," Dickson said.
Persons: Richard Dickson, CNBC's Jim Cramer, We've, Dickson, he's, Mattel's Barbie, Zac Posen, Richard Dickson's Organizations: Mattel, Old Navy, Banana, Navy Locations: Banana Republic
Gap shares soar on Old Navy brand renewal, controlled inventory
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +2 min
Comparable sales at Old Navy rose 1% in the third quarter, the first increase in 10 quarters. "Old Navy gained market share, an encouraging early proof point that work to improve both product assortment and brand messaging" were driving results, Gap Chief Financial Officer Katrina O'Connell said on Thursday following the earnings. Gap's struggles with outdated inventory at its namesake brand and Old Navy had pushed customers to look for newer and fresher styles at rivals like Shein and Amazon.com (AMZN.O). Jefferies analysts said new CEO Richard Dickson's prior experience in reinvigorating brands like Barbie at Mattel (MAT.O) could bring a lift to the Old Navy banner. The apparel maker's executives also alluded to a "longer recovery" time for Banana Republic and Athleta, which has seen "product misfires" and weak "retail execution".
Persons: Sarah Meyssonnier, Katrina O'Connell, Richard Dickson's, Barbie, Ananya Mariam Rajesh, Sriraj Organizations: REUTERS, Old Navy, Walmart, Advisory, Navy, Jefferies, Mattel, Banana Republic, Thomson Locations: Paris, France, trendier, encouragingly, Bengaluru
In this article GPS Follow your favorite stocks CREATE FREE ACCOUNTPedestrians walk past Old Navy and GAP stores in Times Square, New York City. The company is projecting net sales to decrease in the low double-digit range for the fiscal third quarter compared to last year's net sales of $4.04 billion. Sales declined 6% at Old Navy, on top of a sharp 13.6% decline in the prior-year period. Gap is betting Dickson can breathe new life into Gap's brands: its namesake banner, Old Navy, Banana Republic and Athleta. "We know that regardless of market conditions, strong brands, brands that matter, win," said O'Connell.
Persons: Drew Angerer, Katrina O'Connell, Neil Saunders, StreetAccount, Richard Dickson's, Mattel's Barbie, Dickson, Here's, Chris Blakeslee, Alo Yoga, O'Connell Organizations: Navy, GAP, Refinitiv, Old Navy, Mattel, Banana, Republic Locations: Times Square , New York City, Banana Republic, women's, men's, Gap China, North America
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