Old Navy, long the Gap Inc.’s biggest problem, became something of a savior in the first quarter as the division’s improved results helped its parent firm exceed expectations despite a 13.7 percent profit decline.
Net income for the three months ended May 2 totaled $215 million, or 31 cents a diluted share, 1 cent better than analysts’ consensus estimates but below the $249 million, or 34 cents, reported for the year-ago quarter.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)