Old Navy announcement proves Americans want cheap clothesCNN 03/03/2019
Discount clothing retailers, for the most part, are on a growth path, while those selling moderately-priced merchandise are having a tougher go of it. A case in point is Old Navy, which saw its same-store sales grow three percent last year as Gap’s comps fell into negative territory. Last week, Gap Inc. announced it was splitting off Old Navy into a standalone company while the Gap and other banners in its portfolio would make up another.
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