Cape Group Recorded A 1% Growth In Its Same Store Sales In December.

Benefit from its banner Cheap brand Old Navy's performance in the Old Navy, Gap Inc. (GPS) Cape Group recorded an increase of 1% in the same store sales in December, exceeding 0.1% of the market expected, but the 2.9% growth rate of the US retailer tracked by the Retail Metrics Inc. Inc. tracking company.

Among them, Old Navy Old Navy store sales rose by 8% over the same period, much higher than the market forecast of 3.3%, but the Gap brand appeared 5% decline. market The estimated 3.8% is even worse. The Banana Republic of Banana Republic is flat compared with the same period last year.

In the first five weeks ended January 4th, the group Total sales It reached $2 billion 100 million, up 2.4% from $2 billion 50 million a year ago.

Gap Inc. (GPS) received $43.10 on Thursday, down 1.15% from a full day, and fell 0.86% to 42.73 dollars later.

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A person familiar with the matter said that the meeting was announced on Monday at Burch Creative Capital's Flatiro office, where employees were withdrawn from headquarters forever. C. Wonder's management, design and sales team still don't know what it will look like. A salesperson in New York who did not want to be named said the brand planned to close its 8 non Manhattan stores in the next two weeks. Surplus goods are expected to be liquidated in C.Wonder stores in Time Warner Center, SOHO and downstream Fifth Avenue. As of Tuesday afternoon, the staff of these stores still did not know that their other branches would be closed, and there was no clear type of severance payment. Some sources say they expect a three week window period before closing down.

On Tuesday, Burch said, "I am very sorry for the fierce competition in the retail environment. The company has to take these necessary steps today. I want to personally thank the outgoing C.Wonder staff for their valuable contributions. "

It remains to be seen whether Chapter 11 will be submitted or Burch will try to save the C.Wonder brand or otherwise authorize the leased debt appears to be the biggest responsibility of Burch in C.Wonder, and the company's Columbus Circle store is reportedly $1600 per square foot. In late November, the company said it would close 20 of its 32 stores.

One source said he made a leap in the first 6 months of trading with Ellen DeGeneres and developed his lifestyle brand ED. Burch now has more time to focus on a diversified portfolio including BaubleBar, his daughter, Pookie and Louisa - sports brand Trademark, Five Below and Solid & Striped, and non fashion companies.

In July, the WWD interview mentioned ED, and Burch insisted that he did not find another project in any form. "I am tired," he said at the time. "For some reason, everyone thinks that we are in fashion in our industry. I really am not. I have 50 other things to do every day. Yes, I have invested a lot of entrepreneurs in our industry. In every category, I only deal with technology. I enjoy my holiday. So for me, I really didn't see anything else. "

"The passion, creativity and intuition that can't be stopped," a friend described, Burch and C.Wonder's biggest stumbling block may be the oldest predicament, too much and too fast. After signing a licensing agreement with Al Tayer in the Middle East in November 2013, Burch said the company's five year plan is to open 250 to 300 stores in 50 countries. Unlike the company co founded by his ex-wife, Tory, the company has her name, the first time to open a store in NoHo, and set up a wholesale business before opening other independent stores around the world - Burch and C.Wonder. According to the source, he invested heavily in its infrastructure and foreign purchases, even though the demand for products had not yet reached that level.