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Gap Will Continue Big Discounts In 2019

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Discounts have become a mainstay at Gap. It's increasingly becoming unusual to pay full price for anything at the Gap. In Gap Inc.'s most recent earnings statement, it reported that same-store sales for its namesake brand were down 7%. Its sister brands Old Navy and Banana Republic reported a 4% and 2% increase, respectively. Business Insider reports Group CEO Art Peck is disappointed with the results. Peck said that Gap continued to feel the impact of "operational missteps in the business," which led to heavy discounting.

Added on the 04/01/2019 12:30:16 - Copyright : Wochit

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