San Francisco-based clothing company Gap Inc. has opened its first Banana Republic store in Russia and plans on opening its first Gap store in Serbia on Friday.
Gap Inc. is reporting that rising costs, especially for its lower-priced items, helped push down its first-quarter earnings 23 percent as its revenue fell only slightly.
Gap Inc. Chairman and CEO Glenn Murphy received compensation worth nearly $6 million in 2010, an 18 percent increase from the prior year, according to an analysis by The Associated Press.
A cherry picker caved into a small sinkhole on Sutter Street overnight, shutting down the street between Grant Avenue and Kearny Street, a police spokesman said.
Gap Inc. said Thursday that its fourth-quarter net income rose nearly 4 percent as slightly stronger sales at its higher-priced Banana Republic stores made up for continued weakness at Gap brand stores.
Gap Inc. said its profit for the fiscal year just ended will come in higher than expected, as revenue at stores open at least a year rose 1 percent in January.
Gap Inc.’s North American President Marka Hansen is leaving the company after 24 years, effective Friday, following a weak holiday season by the clothing brand.
The Gap Inc. reported Thursday its third-quarter net income fell 1 percent, though revenue rose 2 percent.
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