The ceo’s roadmap also includes Gap and Banana Republic store closures and $500 million in expense cuts over three years.
The digital brand delves deeper into the physical world.
The ratings firm said Gap’s outperformance, coupled with prudent financial policies, have things looking up for the retailer.
Dozens of nonprofits signed a letter to Art Peck pushing for Gap to part ways with a Republican-backing, “anti-environmental” lobby.
Retailers are developing plans to draw shoppers back to their stores.
In L2’s annual report card of digital winners and losers among specialty retailers, Sephora, Victoria’s Secret, Old Navy, Ulta, Kate Spade, Coach and American Eagle were among the top.
The company’s stock plunged after its comp sales fell 6 percent last month, with a 14 percent drop at Banana Republic.