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Gap plans


Gap plans to build a $3 billion online business and will still pay attention to the Chinese market


The performance of Gap, the largest apparel retailer in the US, has gradually recovered. Although the core brand Gap has not yet changed, the group plans to push the online market and is becoming faster and faster.

Gap group (NYSE:GPS) today announced the 2017 fiscal year third quarter. In the three months ended September 30th, the various departments of the Gap group performance growth was recorded, sales rose 1% to $3 billion 840 million, comparable sales growth of 3%.

Gap CEO Art Peck said that the performance of Gap in the third quarter reflects the key part of the group's continued momentum, the future will continue to improve the operating efficiency, online services and mobile terminal Gap and investment experience.

As of the end of the reporting period, the group has 3639 stores in 46 countries around the world 3193 of them are the company.

The core of Gap brand sales rose 1%, a 4% month Fishkill distribution center fire damage to the brand; Old Navy is still the biggest brand growth momentum, sales grew by 4%, Fishkill distribution center fire constitutes about 1% of the loss of brand; Banana Republic sales by the closed shop, up slightly by 1% compared to the same period last year.

The decline narrowed, net profit of $204 million from the same period last year increased to $229 million. In a conference call after the earnings release, Art Peck said that despite the The influence of natural disasters and bad weather, but the company's sales growth in fourth consecutive quarters, the five consecutive quarter of gross margin rose.

Thanks to strong growth in denim products, Old Navy is still an important growth engine brand. In "low cost, high efficiency drive" mode, the performance of Old Navy has exceeded expectations. But some shops have been out of date, the company will upgrade the aging renovation shop.

At present, the company has completed the renovation work about 100 stores, most of them are Old Nany.

The concern is, Art Peck, Old Navy will become faster, the delivery cycle will be shortened to 9 to 14 weeks, depending on the product is by sea or air.

The group will also supply chain restructuring earlier put on the agenda, he stressed that the Group restructuring measures is well in the future, will improve the efficiency of the supply chain to meet the changing needs of consumers, the average development period of 10 months to 8 to 10 weeks, the company with a fast fashion retailer.

For better competition has not fully recovered the core brand Gap, Art Peck says it will continue to improve the Gap brand performance And next year, the Gap brand will also shut down hundreds of shops. During the period, Gap has closed 277 stores, every 6 days on average in the United States.

The closure of a department store industry downturn, Gap companies continue to shut down traffic low shops, mainly involving Gap and Banana Republic. in the interior of the mall next three years, the company is expected to add about 70 new stores, including about 270 Old Navy, Athleta and outlet stores, and closed more than 200 poor performance of Gap and Banana Repblic Gap stores.

Chinese still attached to market, to further open up the online and offline, and other fast fashion brands and electricity providers compete for young consumers. In July this year, a series of joint design caused by hot Gap and Chinese social app WeChat, a move aimed at closer behind the brand and WeChat nearly 1 billion active users of the distance.

The products, Gap is also make some efforts, such as the launch of the GapFit sports series, attention to the fashion of the products, and enhance the consumer favorite tannin products.

In August 25th, Gap Chinese 863 largest flagship store opened in Nanjing West Road, the two layer of the flagship store includes a floor and the two floor of the men and women, children and the "gap body" Home Furnishing series.

Throughout the new flagship store, everywhere Gap consciously to create experience, including mobile phone gas station, children's play area. In the digital, a flagship store for consumers obtaining outfit inspiration, looking for specific products, electronic touch screen and LED screen model fitting.

By the impact of fast fashion business, fast fashion brands are focusing on store experience to build. There are people in the industry said that the clothing retailer should not only by bringing consumers to discount stores, and should try to establish the overall value of physical stores.

It is expected that the new Gap flagship store space provides a children's play area bias in the child's way of life, and rich sense of technology store experience, will stimulate the consumers into the store rate to a certain extent, to meet the consumers' shopping experience and the new parent-child cultural experience.

In the Gap to create a line of experience at the same time, the online market expansion is synchronous .Art Pecker said in a statement, Gap's future online business scale will reach $3 billion.

Gap Greater China business director Cherry Zhu said in an interview, now China more than 70 stores, consumers can order online consumer experience.Gap plans to store the delivery line through Chinese business online and offline, open membership integral is also in development.

At the same time, a full channel Gap cooperation with Tmall, Tmall hopes to make up the defects in the current flow of Gap China shop less, to bring more consumers to the brand of Gap group is expected to 201. In fiscal year 7, comparable sales grew at a low number of figures. After the report, Gap shares rose by 8.19% to $29.6 a share, with a market value of about $10 billion 770 million.


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