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  • BREAKING NEWS

BREAKING NEWS

Trump says migrants would need to know ‘how to run away from an alligator’ to flee Florida facility

GAP


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Police: 12-year-old boy vanishes from Deerfield Beach

Read full article: Police: 12-year-old boy vanishes from Deerfield Beach

The Broward Sheriff’s Office Missing Persons Unit is asking for the public’s help in locating a missing 12-year-old boy from Deerfield Beach.

No description available

Stocks end higher on Wall Street but still fall for the week

Read full article: Stocks end higher on Wall Street but still fall for the week

Stocks ended higher on Wall Street but still wound up with weekly losses after several days of bumpy trading.

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Stocks stumble 2.8% as worries about interest rates worsen

Read full article: Stocks stumble 2.8% as worries about interest rates worsen

Stocks slumped on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank's efforts to fight inflation.

No description available

Kanye West debuts $200 Yeezy Gap puffer jacket on birthday, some found it’s already sold out

Read full article: Kanye West debuts $200 Yeezy Gap puffer jacket on birthday, some found it’s already sold out

Kanye West released his first item in his collaboration with GAP on his 44th birthday: a cobalt blue puffer jacket.

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Consumer spending dipped 1% as winter storms raked the US

Read full article: Consumer spending dipped 1% as winter storms raked the US

(AP Photo/Steven Senne)WASHINGTON – Consumers spending and personal incomes both fell sharply in February as severe winter storms disrupted shopping in many parts of the country and the government wrapped up distribution of $600 relief payments. Consumer spending fell 1% last month, the Commerce Department reported Friday, the biggest drop since last April when spending tumbled 12.4% as the country was broadsided by the global pandemic. Consumer spending, which is closely watched because it accounts for 70% of economic activity, jumped 3.4% in January. Personal incomes, which provide the fuel for future spending, surged 10.1% the same month as the U.S. doled out $600 checks. The government reported that personal savings totaled a sizable $2.41 trillion with the saving rate, saving as a percentage of after-tax income, at 13.6%.

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Gap is in trouble; spinning off Old Navy up in the air

Read full article: Gap is in trouble; spinning off Old Navy up in the air

Perhaps more troubling, Gap said that sales at Old Navy stores open at least a year slipped 4% during its most recent quarter compared with the same period a year earlier. For investors, the lack of a clear succession plan atop Gap and weakness at Old Navy are signs of trouble. "Weaker results at the [Old Navy] business reduce the upside potential to the value of a standalone entity," Dana Telsey, analyst at Telsey Advisory Group, said in a note to clients Friday. Old Navy, born in 1994, has been the top prize in Gap's often inconsistent brand portfolio. Old Navy reached $1 billion in annual sales in its first four years by hawking trendy, low-priced clothes.

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Old Navy plans to open 800 new stores

Read full article: Old Navy plans to open 800 new stores

Justin Sullivan/Getty Images(CNN) - Old Navy outlined plans Thursday to open 800 new stores, its first major announcement since the Gap, its parent company, announced it would spin off the lower-priced brand. Old Navy had 1,140 stores at the end of its fiscal year in February. Old Navy expects to open up around 75 stores a year, focusing away from struggling malls. The Gap said in February that it plans to spin off Old Navy into a public company in 2020. Old Navy will open stores at a moment when most of the industry is doing the opposite.

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Retailers among 2019's worst stocks

Read full article: Retailers among 2019's worst stocks

Spencer Platt/Getty Images(CNN) - Looking for more proof of just how hard it is for traditional retailers to compete in a world that's increasingly dominated by Amazon? Nordstrom and Gap are the worst-performing stocks in the S&P 500 so far this year. Several other big brick-and-mortar retailers are among the market's biggest losers of the first half of 2019. All of those companies have recorded sluggish sales and profits as consumers increasingly shop online. And Home Depot, which faces less competition from Amazon and online shopping in general, is up more than 20%.

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