In what turned out to be one of the stranger holiday seasons in recent memory retailers fought through a range of unconventional headwinds to deliver an uneven performance.
Gap Inc. reported Thursday that profit for the third quarter dropped 36% to $193 million, compared with $303 million a year earlier, as the retailer continued a deep discounting trend and encountered rising production costs.
Gap Inc. has announced a series of significant management and organizational changes at Gap brand designed to drive more consistent results in North America and to provide a new and dynamic creative leadership structure that will deliver sustainable global growth.