Lily Meier

1 week ago | news.bloomberglaw.com | Lily Meier

Gap Inc. slumped after reporting a tariff impact of as much as $300 million and stubborn weakness at two of its smaller brands, Banana Republic and Athleta. Gap estimates an impact of $250 million to $300 million from tariffs if their level remains at 30% for most goods from China and 10% for other countries. The company, which kept its guidance stable from the previous quarter, said it has strategies to mitigate more than half of that cost.

1 week ago | bloomberg.com | Lily Meier

A customer carries an Old Navy shopping bag in San Francisco. (Bloomberg) -- Gap Inc. slumped after reporting a tariff impact of as much as $300 million and stubborn weakness at two of its smaller brands, Banana Republic and Athleta. Gap estimates an impact of $250 million to $300 million from tariffs if their level remains at 30% for most goods from China and 10% for other countries.

1 week ago | spokesman.com | Lily Meier

Kohl’s Corp. reported better-than-expected comparable sales, a positive sign amid a tumultuous run of events for the retailer. Comparable sales fell 3.9% in the three months ended May 3, slightly better than what analysts were anticipating. The company forecast earlier this month that comparable sales would fall 4% to 4.3%. The company reported revenue of $3 billion for the quarter, roughly in line with analysts’ expectations. The company also affirmed its full-year outlook.

1 week ago | bloomberg.com | Kim Bhasin |Lily Meier

John Hoke(Bloomberg) -- John Hoke, a longtime top design executive at Nike Inc., is retiring after more than three decades shaping new products at the world’s largest sportswear company. Hoke is stepping down as Nike’s chief innovation officer, according to an internal memo seen by Bloomberg News. In that role, he’d been charged with speeding up the pace of product development.

1 week ago | bloomberg.com | Lily Meier

The entrance of a Kohl's store in Lincolnwood, Illinois. (Bloomberg) -- Kohl’s Corp. jumped after reporting better-than-expected results in the latest quarter, offering some reprieve to the retailer following a tumultuous run of events that included the surprise firing of its top executive. Comparable sales fell 3.9% in the three months ended May 3, slightly better than what analysts were anticipating and outpacing the company’s earlier forecast for a decline between 4% and 4.3%.