Latest news with #GapInc.
Time of India
3 days ago
- Business
- Time of India
Wall Street slips as tariff concerns weigh on earnings, inflation data in focus
US stocks slipped in early trading Friday, giving back some of their recent gains as investors weighed a mixed batch of earnings reports, inflation data and ongoing uncertainty over the future of tariffs imposed under President Donald Trump. The S&P 500 fell 0.3% shortly after the opening bell, while the Dow Jones Industrial Average dropped 158 points, also 0.3%. The Nasdaq Composite declined by a similar margin. Leading the market lower was Gap Inc., whose shares tumbled after the retailer warned that tariffs on imports from China and other countries could increase its costs by as much as $300 million this fiscal year. This warning overshadowed its stronger-than-expected quarterly results. Meanwhile, Ulta Beauty rose 8% in early trading after reporting earnings and revenue that topped Wall Street forecasts, along with an upbeat full-year outlook. Investors also had an eye on Alphabet, parent company of Google, whose shares remained flat ahead of closing arguments in a landmark antitrust case that could result in major changes for the tech giant, which was previously ruled an illegal monopoly by a federal judge. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Markets have been particularly sensitive to trade developments this week. Hopes were briefly lifted after a ruling from the US Court of International Trade determined that the 1977 International Emergency Economic Powers Act, used by Trump to justify sweeping tariffs, did not grant such authority. However, those tariffs remain in effect for now as the White House appeals the decision, leaving the ultimate resolution uncertain. The focus now shifts to the Commerce Department's April report on consumer spending, due later Friday. The release includes the Federal Reserve's preferred inflation measure, which analysts believe moved closer to the central bank's 2% target. With the Fed keeping interest rates unchanged for three consecutive meetings amid inflation and trade concerns, investors will be listening closely to public remarks from three Fed officials scheduled for later in the day. Global markets showed mixed movement. In Europe, France's CAC 40 rose 0.3%, Germany's DAX climbed 0.8%, and the UK's FTSE 100 added 0.6%. In Asia, Japan's Nikkei 225 dropped 1.2% to 37,965.10 after inflation data from Tokyo showed core prices rising faster than expected, fueling speculation that the Bank of Japan may raise interest rates. Australia's ASX 200 gained 0.3%, while South Korea's Kospi slipped 0.8% ahead of next week's presidential election. Hong Kong's Hang Seng lost 1.2% and China's Shanghai Composite shed 0.5%. The trade court's ruling applies only to some tariffs, leaving those on steel, aluminum, and automobiles—enacted under a different law—unaffected. On Thursday, the US Court of Appeals for the Federal Circuit allowed the president to continue collecting the contested tariffs temporarily while the case proceeds. In energy markets, US crude dipped 7 cents to $60.87 per barrel, while Brent crude fell 10 cents to $63.25. In currency trading, the US dollar weakened to 143.68 yen from 144.12 yen, and the euro edged down to $1.1344 from $1.1367. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Fibre2Fashion
3 days ago
- Business
- Fibre2Fashion
US brand Gap's sales up 2% to $3.5 billion in Q1 FY25
Gap Inc., the largest specialty apparel company in the US with a portfolio of brands including Old Navy, Gap, Banana Republic, and Athleta, has posted net sales of $3.5 billion in the first quarter (Q1) of fiscal 2025 (FY25), up by 2 per cent compared to last year. Comparable sales were up 2 per cent year-over-year. Store sales were flat compared to last year. The company ended the quarter with about 3,500 store locations in over 35 countries, of which 2,496 were company operated. Online sales increased 6 per cent in Q1, compared to last year and represented 39 per cent of total net sales, the company said in a press release. American retailer Gap Inc. has reported net sales of $3.5 billion in the first quarter of fiscal 2025, up 2 per cent year-over-year, with 2 per cent growth in comparable sales and a 6 per cent rise in online sales, which made up 39 per cent of total sales. Net income reached $193 million, with EPS at $0.51. Gross margin rose to 41.8 per cent. "Gap Inc. delivered strong first quarter results, exceeding financial expectations and gaining market share for the 9th consecutive quarter," said president and chief executive officer, Richard Dickson . "We had positive comp sales for the 5th consecutive quarter, with our two largest brands, Gap and Old Navy, winning in the marketplace, demonstrating the power of our brand reinvigoration playbook. The rigor we've embedded across the organisation continued to serve us well, driving gross margin and operating margin expansion in the quarter. These results are yet another proof point that our strategy is working. In this highly dynamic environment, we are optimistic yet realistic and remain focused on controlling the controllables as we build our company for long term growth." The company registered gross margin of 41.8 per cent increased 60 basis points versus last year and net income of $193 million; with diluted earnings per share of $0.51. It ended the quarter with cash, cash equivalents and short-term investments of $2.2 billion, an increase of 28 per cent from the prior year. Net cash from operating activities was negative $140 million primarily due to seasonality. Free cash flow, defined as net cash from operating activities less purchases of property and equipment, was negative $223 million. Fibre2Fashion News Desk (RR)
Elle
5 days ago
- Entertainment
- Elle
Exclusive: Lindsay Lohan Fronts Her First Old Navy Campaign
Like any good millennial, Lindsay Lohan has an Old Navy commercial that's permanently wedged into her subconscious. That would be the Dating Game parody promoting the brand's low-rise jeans. (For some of us, it was Carrie Donovan in owlish glasses making us aware that 'fashion editor' could be a job.) Now, our Summer Issue cover star has her very own moment sure to implant in the memory bank of Gen Alpha: she's starring as an '80s-style aerobics queen in the 'Old Navy, New Moves' activewear campaign, shot by Ethan James Green, styled by Dara, and costarring Dylan Efron, Quen Blackwell, and Charo. Lohan, whose leg extension in the clip is nothing less than impressive, has many warm and fuzzy memories of back-to-school shopping at the retailer growing up. 'It's such a family-friendly place,' she says. 'And it made fashion accessible without compromising style and comfort.' Since Zac Posen began his creative takeover of Gap Inc., the whole portfolio of brands has gotten a fresh coat of paint. Posen and Lohan have known each other for some time, and he even dressed her for the 2007 Met Gala. This project was 'so nostalgic for me,' Lohan tells ELLE, 'because Zac and I have always been close. To work together in this capacity is a really nice moment for us both to have, and to see what he's doing and how great he's doing in this space is just wonderful....I always feel like life comes full circle.' The sporty red set and throwback leg warmers Lohan wears in the campaign also took things full circle, back to the days when her mom did those famous Jane Fonda workout videos. 'It was such a movement then, of women in the exercise space and spotlight,' she says. Lohan is an activewear fan, but not necessarily a stay-in-your-gym-clothes-all-day type. She's back and forth between Dubai, L.A., and New York, and says, 'Depending on where I am, that also kind of [determines] what I'm going to be [dressed] like. If I'm in L.A., everyone's in athleisure all day every day. When I'm home, I get ready in my workout clothes, do my workout, and then they're in the hamper. You know what I mean?' 'But I'm a leggings girl,' she says, (as if anyone who once yearned for a pair of her 6126 designs could ever forget.) 'I've always been, since forever. I like to be able to have a good pair of comfortable high-waisted leggings always on hand. Especially now, having a kid, you always want to have comfort. I have days where I'm in leggings all day.' She continues: 'I've always been comfort-focused. If I'm not comfortable in it, I'm not going to put it on. That's always been a big thing for me. With time, maybe I've become a bit more modest. I'm not as comfortable risking certain things. But it depends. If it's a nice dinner date with my husband, I want to feel sexy and look nice. And then my daywear is more casual, usually. But when I'm in New York, I like to dress because I'm in New York.' Speaking of millennial touchstones, the fashion of her '90s and 2000s films is still all over our Pinterest boards. And she is not immune to their lure. 'I loved Annie's play on Chanel tweed in The Parent Trap. That's got to be my favorite favorite,' Lohan says. 'Even down to Hallie's Hard Candy nail polish; that was such a big thing then.' She also cites Confessions of a Teenage Drama Queen, where she got to be involved with the costume design, and of course the iconic looks from Mean Girls. With Freaky Friday sequel Freakier Friday hitting theaters in August, she also indulges in some nostalgia for the fashion of her character Anna: 'I remember I was like, 'I want her to be like Avril Lavigne!' [Director] Mark Waters was like, 'Why Avril Lavigne?' I'm like, 'Because she's a teenager with angst.'' Lohan has still hung onto much of her wardrobe from that time in her life, though that doesn't mean she's going to revisit every single fashion moment. 'You have your favorite things you never want to get rid of, and you hoard them. Will I wear low-rise jeans? Will I do it? I don't know. I look back at pictures and I'm like, 'I think I'm good.'' As for the beauty moment she's unlikely to revisit, 'I don't think I would ever put those blonde streaks in my hair again. Just because I know it will damage my hair.' One throwback moment she's more enthusiastic about is her '80s turn in the new campaign. 'It was a really nice vibe and energy on set, and everyone was laughing and having fun,' Lohan says. 'That's kind of the best, when work doesn't really feel like work—and you're getting a workout in.'
Associated Press
07-04-2025
- Business
- Associated Press
Ground Game: Tariffs and clothing, Trump and Netanyahu meet again, Alabama GOP concerns and caveats
This newsletter was originally sent out via email to our Ground Game subscribers on April 7. You can subscribe at any time at By Meg Kinnard Sending children back to school in new sneakers, jeans and T-shirts is likely to cost U.S. families significantly more this fall if the bespoke tariffs President Donald Trump put on leading exporters take effect as planned, American industry groups warn. We take a look at the possible implications for U.S. consumers, how the industry has tried to prepare and who might be the winners and losers in a garment trade war. Welcome to this week's edition of AP Ground Game. Policy changes, but facts endure. AP delivers accurate, fact-based journalism to keep the world informed in every administration. Support independent reporting today. Donate. THE HEADLINES Trade groups warn tariffs will make just about everything Americans wear cost more About 97% of the clothes and shoes purchased in the U.S. are imported, predominantly from Asia, according to the American Apparel & Footwear Association. Walmart, Gap Inc., Lululemon and Nike are a few of the companies that have a majority of their clothing made in Asian countries. Those same garment-making hubs took a big hit under the president's plan to punish individual countries for trade imbalances. For all Chinese goods, that meant tariffs of at least 54%. He set the import tax rates for Vietnam and neighboring Cambodia at 46% and 49%, and products from Bangladesh and Indonesia at 37% and 32%. Working with foreign factories has kept labor costs down for U.S. companies in the fashion trade, but neither they nor their overseas suppliers are likely to absorb new costs that high. Industry experts say reviving the American garment industry would be hugely expensive and take years if it were feasible. The number of people working in apparel manufacturing in January 2015 stood at 139,000 and had dwindled to 85,000 by January of this year, according to the Bureau of Labor Statistics. Sri Lanka employs four times as many despite having a population less than one-seventh the size of the U.S. Read more. Of note: According to a report by British bank Barclays published Friday, the winners in the tariff wars are retailers that have at least one of these attributes: big negotiating power with their suppliers, a strong brand name and limited sourcing in Asia. In clothing and footwear, that includes off-price retailers Burlington, Ross Stores Inc. and TJX Companies, which operates T.J. Maxx and Marshalls, as well as Ralph Lauren and Dick's Sporting Goods. The companies in for a tougher time are those with limited negotiating power, limited pricing power and high product exposure in Asia, a list including Gap Inc., Urban Outfitters and American Eagle Outfitters, according to the report. Trump and Netanyahu will meet again on Monday Trump plans to meet with Israeli Prime Minister Benjamin Netanyahu on Monday in what would be their second White House sit-down since Trump's return to office. The visit, confirmed by a White House official and Netanyahu's office Saturday, comes as Israel deploys troops in a new security corridor across Gaza to pressure the Hamas militant group. Netanyahu's defense minister has said Israel will seize large areas of the territory and add them to its so-called security zones. Last month, Israel shattered the ceasefire with a surprise bombardment in Gaza after trying to pressure Hamas to accept proposed new terms for the ceasefire, a move supported by the White House. Hundreds of Palestinians have since been killed. Israel has pledged to escalate the war in Gaza until Hamas returns the remaining hostages seized in the Oct. 7, 2023, attack that sparked the war, disarms and leaves the territory. Israel also has halted all supplies of food, fuel and humanitarian aid into Gaza. Read more. Of note: In February, Netanyahu became the first foreign leader invited to the White House during Trump's second term. Their meeting focused on Israel's war with Hamas and the next steps as a ceasefire deal took hold. Netanyahu's office in a statement on social media said he and Trump would discuss 'the tariff issue, the efforts to return our hostages, Israel-Turkey relations, the Iranian threat and the battle against the International Criminal Court.' Israel faces a 17% tariff. Israeli strikes on Gaza kill 32, mostly women and children Netanyahu is rocked by a new scandal linking his close advisers to Qatar In conservative Alabama, Republicans cheer Trump, with some quiet caveats On a day when stock markets around the world dropped precipitously, Alabama Republican Party Chairman John Wahl led a celebration of the president whose global tariffs sparked the selloff. With no mention of the Wall Street rollercoaster and global economic uncertainty, Wahl declared his state GOP's 'Trump Victory Dinner' – and the broader national moment – a triumph. Yet beyond the cheerleading in response to Wahl's remarks at last week's gala in downtown Birmingham, there were signs of a more cautious optimism and some worried whispers over Trump's sweeping tariffs, his deportation policy and aggressive slashing of his Department of Government Efficiency. 'There are some concerns, some conversations,' said John Merrill, a former secretary of state, over just what Trump's agenda will mean on the ground. Terry Martin, a county GOP committeeman in Tallapoosa County, said he supports the tariffs as leverage. But, 'the parts that are coming from overseas … it's going to pop it up' in price, he said, at least in the short term. Wahl, in an interview after the gala, took a more nuanced approach than he did at the podium. Angry protesters from New York to Alaska assail Trump and Musk in 'Hands Off!' rallies IN PHOTOS ON THE CALENDAR On Monday, Trump hosts the 2024 World Series Champion Los Angeles Dodgers and meets with Netanyahu at the White House. 2025 COUNTDOWN
Arab News
05-04-2025
- Entertainment
- Arab News
Imaan Hammam talks 'incredible time' in new campaign
DUBAI: Dutch-Moroccan-Egyptian model Imaan Hammam took to Instagram to highlight Gap Studio's inaugural campaign, in which she stars alongside US models Alex Consani and Anok Yai. For the latest updates, follow us on Instagram @ Gap Studio is a new high-end segment from the US retailer. Created by Zac Posen, Gap Inc.'s executive vice president and creative director, Collection 01 reflects Posen's signature approach to tailoring and draping while reimagining Gap's core textiles such as denim and poplin. 'Had the most incredible time bringing @zacposen's designs to life for #GapStudio with @anokyai and @alexconsani,' Hammam captioned the post, featuring a behind-the-scenes look at the shoot. A post shared by Imaan Hammam (@imaanhammam) Key pieces in the collection include the twill tailored trench coat, double-breasted blazer, high-rise sailor pant and poplin maxi shirtdress. Earlier this year, Hammam took to Instagram to announce the launch of her new archival project, Ayni, which will highlight significant contributions to Arab film, art, music and literature. 'Meet Ayni (@ an archive dedicated to the preservation and promotion of Arab artistic expression through 'my eyes,'' Hammam captioned the post on Instagram. 'Follow along as I highlight some of the most significant contributions to Arab film, art, music, and literature — both old and new — and celebrate the talented artists behind them. This project holds such a special place in my heart, and I hope you enjoy it just as much as I enjoy curating it.' A post shared by Gap (@gap) Late last year, the model made waves when she delivered the opening remarks at the highly regarded Fashion Trust Arabia Awards' sixth event, in Marrakech, Morocco. The 28-year-old went on stage in a black kaftan from Moroccan designer Selma Benomar. The heavily embroidered look highlighted Moroccan artistry and design, and paid tribute to the country's royal family. 'So honored to open this year's @fashiontrustarabia Awards here in the motherland,' Hamman said on Instagram. 'Celebrating Arab artistry in the place where my roots run deep made this experience truly special. Proud to uplift the creativity that makes our culture unique. A special thank you to @selma_benomar_caftan for designing this gorgeous Moroccan custom-made caftan.' Although Hammam was born and raised in Amsterdam, her mother is from Morocco and she visits the country frequently. Hammam is one of the most in-demand models in the industry. She was scouted in Amsterdam's Centraal Station before making her catwalk debut in 2013 by walking in Jean Paul Gaultier's couture show.
