Gap Inc. saw fourth-quarter profits drop 12.5 percent but still believes it experienced “a very consistent” 2013 and sees brick and mortar increasingly relevant to the business as such initiatives as ship-from-store, order-in-store, and reserve-in-store get rolled out.
“We are actually looking at the role of the store to incrementally increase as these services get provided to customers,” said Glenn Murphy, chief executive officer of Gap Inc., which on Thursday reported that net income for the fourth quarter fell to $307 million, or 68 cents a share on a diluted basis, compared to net income of $351 million, or 73 cents a share, in the year ago period.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)