We went to Old Navy and saw why the brand is Gap's secret weapon
Old Navy has become Gap's saving grace.
Gap Inc, the parent company of its namesake brand, Banana Republic, and Old Navy, has reported negative same-store sales growth for the past two years.
Independently, however, the Old Navy brand has seen positive same-store sales growth for the past five years. Last quarter, sales were up 8%, boosting Gap Inc's share price and rescuing it from an otherwise gloomy period.
We visited a Gap and an Old Navy store on a rainy Thursday afternoon in one of New York's busiest shopping areas: Herald Square. We saw firsthand why the brand is resonating well with customers: