when it announced its CEO Art Peck was stepping down, effective immediately, in early November. Gap's total sales have fallen for the past four quarters now.
Now, with an interim CEO and an ongoing search for a new chief, Gap is hitting reset. But one thing it says it won't change is its plans to spin off its Old Navy brand into its own publicly traded company. Some investors are relieved the company is pushing forward with the plan, but others worry about its rationale if growth slows at Old Navy. Old Navy was once the star of Gap's portfolio.
Gap is known for being heavily promotional. But too many deals in stores this holiday season could end up weighing further on profitability. Gap needs to find a balance this holiday season between exciting shoppers with deals and keeping its profit margins in check.Barnes & Noble has been struggling for years now to pull itself out of a sales slump.But in July, activist firm Elliott Management announced it would be acquiring the bookseller for roughly $683 million, including debt.
Still, Barnes & Noble faces a tough battle each holiday season. It has been ceding market share to Amazon. And pressure has mounted with more consumers turning to their smartphones or iPads to pass time, instead of to books. Barnes & Noble has been shutting some of its larger locations in favor of opening up smaller-format shops with cafes and, in some instances, eateries.
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Kohl's will be next retailer going belly up.