Even though the Gap was kind enough to address (er, refute) our reader’s observations about the Gap’s general state of crappiness, we haven’t forgotten that the store isn’t doing so well sales-wise, and it is therefore our sad duty to inform you that same store sales are down 7%.
Within the Gap empire, the numbers seem to mirror the sentiments expressed in our comments:
Gap is down 10%, Old Navy missed by 8%, and Banana Republic is only down 2%.
All three were worse than analysts expected. Does this mean that “reducing the number of styles in our stores to make it easier for our customers,” didn’t work? Or maybe it was the string bikinis for toddlers that drove the shoppers away?
Oh well,Todd Oldham to the rescue!
UPDATE: Gap Sales Drop Below Forecasts; Shares Dip[CNNMoney]
PREVIOUSLY: Old Navy Hires Todd Oldham As Creative Director
Why Do You Hate The Gap? The Gap Responds To Your Complaints
Dear New Gap CEO: Here’s How To Fix Your Stores
String Bikinis: Now Available for Toddlers!
Goodbye, Forth & Towne, We Hardly Knew You…