• Lowe's has 'a big window of opportunity' after shutting down its underperforming stores, UBS says

    18 days ago - By Business Insider

    Lowe's on Tuesday reported third-quarter earnings that beat on both the top and bottom lines but saw comparable sales miss Wall Street's estimates.
    Lowe's also said it will exit Mexico retail business and some non-core US businesses, following previous announcements to shut down Orchard Supply Hardware operations and close 51 underperforming stores in the US and Canada.
    The closure schedule will boost same-store sales of surviving Lowe's locations that are close to storefronts slated to be closed, UBS said.
    Watch Lowe's trade live.
    Lowe's recent decision to close underperforming stores...
    Read more ...

     

  • Gap Considers Closing Hundreds of Stores ‘With Urgency'

    Gap Considers Closing Hundreds of Stores ‘With Urgency'

    18 days ago - By Fortune

    Black Friday 2018 could be the last one for hundreds of Gap stores at malls around the country.
    Art Peek, CEO of Gap Inc., says the retailer is considering the shutdown of hundreds of underperforming stores “with urgency”. Included among those are some of Gap's “flagship” locations.
    “There are hundreds of other stores that likely don't fit our vision for the future of Gap brand specialty store, whether in terms of profitability, customer experience, traffic trends,” Peck said in an earnings call Tuesday. “There likely will be a cash cost to exit many of these stores, which we will attempt...
    Read more ...

     

  • Old Navy is one of the most successful stores in retail right now - but Gap's struggles are raining on its parade

    Old Navy is one of the most successful stores in retail right now - but Gap's struggles are raining on its parade

    19 days ago - By Business Insider

    Gap is struggling while its sister brands thrive.
    In its most recent earnings results, reported on Tuesday , same-store sales at the Gap brand were down 7%, while Old Navy and Banana Republic reported a 4% and 2% increase, respectively.
    Gap Inc. CEO Art Peck told investors that the company is looking to close hundreds of Gap stores, including its flagship locations.
    Tuesday's earnings results were bittersweet for Gap Inc. - the parent company of Gap, Old Navy, Banana Republic, and Athleta - which has watched its namesake brand increasingly fall out of favor and be outshined by its sister...
    Read more ...