If Thanksgiving is a bird, a beer and a football game for you, prepare to have your thinking challenged. Many retailers are looking to get a head start on Black Friday this year, opening a day early, some of them for the first time. Most Old Navy Stores (GPS) will open their doors on Thursday, along with Wal-Mart (WMT), Toys "R" Us, RadioShack (RSH) and Walgreen's (WAG). Rather than bet solely on Friday, retailers are looking to eke every last dime they can out of the holiday season this year.

The National Retail Federation expects holiday spending to drop 1% this year to $437.6 billion. "Retailers need to be competitive," says NRF spokeswoman Ellen Davis. "There's a lot riding on the success of November and December retail sales."

Continue reading Retailers can't wait for Black Friday, open Thursday

Retailers can't wait for Black Friday, open Thursday originally appeared on BloggingStocks on Wed, 25 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

Old Navy is back!

At least, that's what most media outlets are reporting. According to Associated Press, "the bad economy has been good for the chain's lower-price Old Navy brand, which was retooled last year to resume catering to frugal moms after an ill-fated foray into trendier fashions."

Continue reading Is Old Navy's comeback for real? Of course not

Is Old Navy's comeback for real? Of course not originally appeared on BloggingStocks on Thu, 19 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Pre-holiday weekend blahs (CPB, GPS, GM, PLA, SHLD, STP, XRX)

Closing Bell: Pre-holiday weekend blahs (CPB, GPS, GM, PLA, SHLD, STP, XRX) originally appeared on BloggingStocks on Fri, 22 May 2009 16:10:00 EST. Please see our terms for use of feeds.

Gap Inc. (NYSE: GPS) is trying to revive its increasingly irrelevant Old Navy with a new ad campaign unveiled last Thursday.

Gap reported poor results on the same day, and Fortune reported that "Particularly galling for the Gap executives is the poor performance of Old Navy, whose prices should be a solid draw in this recessionary environment. In hopes of getting shoppers back into the store, even though Murphy admits that the chain's product revamp is not yet complete."

Continue reading Old Navy tries to make itself hip

Old Navy tries to make itself hip originally appeared on BloggingStocks on Mon, 02 Mar 2009 13:40:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Bidz.com Inc. (NASDAQ: BIDZ) Q4 earnings release included notice about an SEC investigation.
• Dell Inc. (NASDAQ: DELL) saw net income drop by almost 50%, falling short of estimates.
• Ducommun Inc. (NYSE: DCO) received an analyst's downgrade after its Q4 earnings release.
• Gap Inc. (NYSE: GPS) said Q4 earnings fell due to weakness at Gap and Old Navy stores.
• General Motors Corp. (NYSE: GM) worse-than-expected results prompted speculation about its survival.

Continue reading Earnings highlights: Dell, GM, Lowe's, Heinz, Smucker, Washington Post and more

Earnings highlights: Dell, GM, Lowe's, Heinz, Smucker, Washington Post and more originally appeared on BloggingStocks on Sat, 28 Feb 2009 12:40:00 EST. Please see our terms for use of feeds.

Gap (NYSE: GPS) came out with reasonable earnings. For the quarter ended August 2, 2008, net earnings were $229 million, or $0.32 per share on a diluted basis, compared with $152 million, or $0.19 per share, for the second quarter last year.

Second quarter net sales were $3.50 billion, compared with $3.69 billion for the second quarter of last year. The company's second quarter comparable store sales decreased 10%.

A closer look at the numbers, however, shows the extent to which Old Navy is pulling down Gap's results. Same-store sales at Old Navy's North American operations fell 16% on top of a 9% drop during the same quarter last year. Revenue for the division dropped from $1.5 billion last year to $1.3 billion. Most of Gap's other divisions held their own and online and international sales grew.

Gap would be a smaller company without Old Navy, but it would probably be a more profitable one. The company has 3,177 total stores and 1,065 of these are Old Navy outlets. At the very least, Gap should close any of these locations that are not showing year-over-year improvements.

Gap should be doing better, but Old Navy is a boat anchor.

Douglas A. McIntyre is an editor at 247wallst.com.

Gap (GPS) earnings: Close Old Navy originally appeared on BloggingStocks on Fri, 22 Aug 2008 08:50:00 EST. Please see our terms for use of feeds.

Google Inc. (NASDAQ: GOOG) recently trading up $15.29 to $609.20.

GOOG is expected to report earnings per share (EPS) on October 18th. GOOG October at the money 580 straddle is priced at $32.10. GOOG October option implied volatility of 38 is above its 26-week average of 27 according to Track Data, suggesting larger risk.

The Gap Inc. (NYSE: GPS) CEO Glenn Murphy hosted a meeting with analysts on October 5th.

Smith Barney says "Mr. Murphy is focused on making the company gets an adequate return on its investments. This includes a focus on the expense of the business. We suspect there will be continued focus on moderating the cost structure and assessing various cost components, including marketing. We think the real estate portfolio is under review." GPS over all option implied volatility of 31 is near its 26-week average according to Track Data, suggesting flat price risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Option update: GOOG straddle suggests risk into earnings per share as GOOG at record originally appeared on BloggingStocks on Mon, 08 Oct 2007 16:15:00 EST. Please see our terms for use of feeds.

Gap Inc. (NYSE: GPS) recently hired a new CEO and now, in a further effort to revitalize its Old Navy brand, the company has hired Todd Oldham to become the creative director for the Old Navy brand.

The New York Times described the new job for Todd Oldham, who has previous experience at Target Corp. (NYSE: TGT) and La-Z-Boy Inc. (NYSE: LZB), as his "biggest challenge yet": "Dawn Robertson, the president of Old Navy, said Mr. Oldham would focus on shoppers in their 20s, whom the chain has identified as its target market after years of 'trying to be all things to all people.'"

If you're a fan of Bravo's Top Design show, you may recognize Oldham's name: he's the host.

If recognizing the problem is the first step to fixing it, then Old Navy is well on its way: The Old Navy brand doesn't stand for anything right now and by focusing on a more targeted demographic, Old Navy may be able to return to its glory days.

Oldham is an interesting choice however: He's been out of the fashion industry for years, but maybe fresh blood is exactly what's needed.

Given that Old Navy is bigger than Gap and Banana Republic, a substantial portion of the company's future, and shareholders' money, rests on the shoulders of Oldham.

Gap's (GPS) Old Navy gets a new creative director originally appeared on BloggingStocks on Sat, 22 Sep 2007 14:40:00 EST. Please see our terms for use of feeds.

Byron Pollitt, CFO of Gap (NYSE: GPS) is leaving the company to take the same job with Visa. While there don't appear to be any indications that he was pushed out for wrongdoing, this news is hardly bullish for investors. After all, if he left to pursue an opportunity with Visa, isn't the implication that Gap isn't such a great opportunity right now?

Consider: The job isn't a promotion -- it's the same title. And both companies are located in San Francisco, so we can't even use the "moving closer to home" explanation. No, Mr. Pollitt left because he decided he would rather work for Visa.

With Visa recently having completed a restructuring to prepare for an upcoming IPO, investors may want to follow Pollitt over to that company. If it's a better opportunity for him, it's probably better for investors too.

Gap's (GPS) CFO departs -- should you follow him? originally appeared on BloggingStocks on Thu, 30 Aug 2007 10:17:00 EST. Please see our terms for use of feeds.

Gap Inc. (NYSE: GPS) -- September volatility elevated into August 23 EPS and outlook. Gap, the San Francisco based parent company of 3,200 Gap, Old Navy & Banana Republic stores, is expected to report EPS of 19 cents, according to Thomson First Call. GPS September option implied volatility of 40 is above its 26-week average of 29 according to Track Data, suggesting larger price fluctuations.

Foot Locker Inc. (NYSE: FL) -- implied volatility elevated into EPS and outlook. FL, a footwear & apparel operator of 3,950 retail stores, closed at $15.28. FL has a market cap of $2.4 billion with $220 million in long-term debt. FL is expected to announce EPS after the close on August 22. FL over all option implied volatility of 58 is above its 26-week average of 32 according to Track Data, suggesting larger price risks.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Option update: Gap September volatility elevated into EPS originally appeared on BloggingStocks on Mon, 20 Aug 2007 10:15:00 EST. Please see our terms for use of feeds.

In a victory of hope over reason, shares in GAP (NYSE: GPS) are up 6% to $16.70 in pre-market trading. The

advance is odd because GAP's July same-store sales were off by 7%.

With the exception of its Banana Republic unit, which saw an increase of 4% in same-store sales compared to a drop of 1% in the same month last year, GAP had another rough month in the U.S. GAP North American dropped 6% on top of another 6% last year. Old Navy fell 9% compared to 5% in the same month in 2006.

GAP did announce that for the second quarter of fiscal 2007, the company expects diluted earnings per share on a GAAP basis between 17 and 18 cents.

Thomson Financial had forecast GAP same-store sales to be down 4.9%. But, the guidance must have fired up Wall Street.

Douglas A. McIntyre is a partner at 24/7 Wall St.

GAP (GPS) in logic: Sales down, shares up originally appeared on BloggingStocks on Thu, 09 Aug 2007 08:50:00 EST. Please see our terms for use of feeds.

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and watch out for more Battle of the Brands posts.

Every time I walk through a mall (not too often these days), I see a new "hip" store of which I was previously unaware. I can always count on a few mainstays, though ... the cell-phone-accessory kiosk manned by overly enthusiastic employees, the tantalizing aroma from Auntie Anne's pretzels, and the always tasteful novelty shops. In most malls, I can typically scope out the latest yuppie fashions in either Gap (NYSE: GPS) or Abercrombie & Fitch (NYSE: ANF) (and often-times both). Despite the encroachment of Hot Topic (NASDAQ: HOTT), Pacific Sunwear of California (NASDAQ: PSUN), and other trendy competitors, these two venerable names have stood the test of time, providing relatively affordable threads for men, women, and kids.

In addition to its eponymous chain, which was started in 1969, GPS runs the Old Navy and Banana Republic chains. The retailer's most recent experiment, Forth & Towne (created to appeal to thirty-something career woman) was a bust and has now been abandoned after 18 months. Same-store sales trends have turned south of late, dropping five percent in fiscal year 2005 and slumping seven percent last year. And during the past 12-month cycle, GPS has seen its quarterly earnings drop more than 35 percent. The stock is well off its highs, having lost two-thirds of its value since early 2000. With technical resistance bearing down in the form of the equity's 10-month and 20-month moving averages, relief might not be in sight for a while.

Continue reading The Gap or Abercrombie & Fitch: Who is more tragically hip?

The Gap or Abercrombie & Fitch: Who is more tragically hip? originally appeared on BloggingStocks on Sat, 07 Apr 2007 14:10:00 EST. Please see our terms for use of feeds.

The Gap Inc. (NYSE:GPS) clothing store announced last week that net sales for February 2007 were up 5% to $910 million as compared to $865 million for February 2006. However, in a bit of a twist, comparable sales for that period were down 4% from the same period in 2006. The decrease in comparable sales was across the board for all North American Gap divisions:

• Gap North America comparable sales for February 2007 were down 5%, slightly better than a 7% decrease posted for February 2006.
• Banana Republic North America comparable sales were flat, which is a big improvement over an 11% decrease for February 2006
• Old Navy North America comparable sales declined 6%, still better than the 14% decline recorded in February 2006.
• International sales showed a modest 2% increase, very good news when compared to a 14% decline for February 2006.

Gap opened 80 additional retail locations between February 2006 and February 2007. The company currently has 3,135 store locations. A Gap spokesman called the results expected given the challenging retail environment for Gap and Old Navy.

Gap shrinks at the Gap originally appeared on BloggingStocks on Tue, 13 Mar 2007 10:20:00 EST. Please see our terms for use of feeds.

The Gap Inc. (NYSE:GPS) said net sales of $1.40 billion in November was a 2% decrease from the year-ago November sales month. With holiday shopping already at full-throttle by November, this strikes me as odd. The Gap also reported an 8% decrease in same-store sales this November, compared with half the amount, or 4% reported for the same period last year.

I was traveling at the end of November and saw a Gap store brimming with sales, long lines and stressed clerks, so at least one store in the Midwest seemed to be doing well. I think Gap's Old Navy division was doing more business, but the combined results still pour into a single company balance sheet.

With clothing retailers Kohl's and J.C.Penneys showing results that pumped up same-store sales results for November, I guess Gap's clothing-only business didn't fare as well as the department store approach.

When these numbers were released, Sabrina Simmons, senior vice president of corporate finance at The Gap Inc. said, "Overall, November was a challenging month as negative traffic trends persisted .. promotional and markdown activities at Gap and Old Navy drove total company merchandise margins below last year, and we expect pressure on merchandise margins to continue into December."

The Gap, Inc. same-store sales plunge in November originally appeared on BloggingStocks on Thu, 07 Dec 2006 15:00:00 EST. Please see our terms for use of feeds.

Continue reading Abercrombie, Gap: we are so over you!

Abercrombie, Gap: we are so over you! originally appeared on BloggingStocks on Fri, 01 Dec 2006 06:29:00 EST. Please see our terms for use of feeds.