Danielle D
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The AOL article is just speculation. There is nothing about Old Navy going out of business on Gap Inc's website, and as an employee, I have not heard such rumors.
Over the past year or two, there has been management changes for Gap Inc and Old Navy -- they are trying to define themselves and get product to market quicker to stay in tune with trends. They've really changed their marketing techniques and advertising in hopes to turn the brand around and get out of a sales slump.
Gap Inc's fiscal year just ended in January.
Old Navy's fiscal year sales were $6.2 BILLION in 2007, compared with $6.5 BILLION in 2006. As you can see, it is not a dramatic decrease. I'd blame most of it on the crappy economy... people just arent spending extra money on clothes, even if they are inexpensive. |
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RuhlM
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I'll agree that this is purely speculation, albeit good speculation. The entire idea that Old Navy is going out of business is literally incorrect. If anything is going to occur there will be an absorption of Old Navy by parent company Gap, Inc.
I am fluent in acquisition, merger and restructure investments and must comment on the fact that in most of these situations employees are usually not cognizant to the matters at hand. This type of reorganization is also a large matter to process and will either have taken a few years of planning or will take a few years from now to complete.
In the end, judging from the history of reorganizations concerning profits, I'd say keep a watch on Old Navy as there is a potential for at minimum brand reorganization and absorption. Nothing different than GMC absorbing Oldsmobile. This is simply a business tactic to maximize profits while minimizing overhead costs. Right now Old Navy has high overhead with minimal profits. |
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Katie M
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I read that article on AOL everyone's talking about, and I bet it's all just rumors or speculation.
That's the only article I've seen that talks about it.
I really hope it's not closing, though!
I just went yesterday and they had such fun clothes! |
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ON sup
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i believe it is true if you look on aol it says that 7 company names are going out of business in 2008 most old navy employees are going to transfer to banna or gap but if you need to look it up then go to aol. |
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ON Employee
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It's purely speculation. Old Navy is turning around their focus audience and changing their whole look and feature. Gap, Inc. is not going to be closing down Old Navy as a company. The only consideration is closing unprofitable outlet centers, but the brand will not disappeared... AOL doesn't know what they're talking about |
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Amanda Rose
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Old Navy is NOT going out of business.
I was asked by a customer today and then I asked my CEO (manager) if it was true.
She replied that this was a FALSE rumor.
The rumor was that Gap would be buying out all of the Old Navy's which is rediculous because Old Navy is OWNED by Gap Inc. already.
Gap Inc. owns Banana Republic, Gap, Old Navy and Piperlime which is the online shoe store.
We bring in way too much of a profit to close down so no worries everyone, Old Navy is here to stay. =) |
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♥Caroline♥
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I actually read something of the sort a couple days ago on AOL. They're owned by Gap and they haven't been doing well and have overall been dragging down the company, so Gap is considering getting rid of them and replacing them with Gap. Here's the link if you want to look. http://money.aol.com/investing/brands-that-will-disappear-in-2008
xoxo love caroline |
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Danielle K
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I did hear that they were going out of business because they don't make enough money compared to Gap etc. Most of their clothes are sent to the outlet's. I heard this could take up to 2 years though, so shop while you can! |
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MiZz C
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N0 0LD NAVY iSN'T G0iNG 0UT 0F BiZ!!!! iT'S M0S D3F A RUM0R!!! N0 0LD NAVY AND GAP AR3 N0T C0MP3TiTiNG B3CAUS3 0LD NAVY iS AFFiLiAT3D WIT GAP iNC. |
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Brooke M
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i don't think so
who told you that??? |
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Peggy W
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where did you hear that? I haven't heard a thing about it... |
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awye
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ahh i just heard that too! im so sad!! :( |
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tinkerbell82
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I haven't heard anything about that |
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joyceewittman
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No, they're better than Gap, etc. |
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