INSIDER
NYC planning to remove homeless encampments from streets
Read full article: NYC planning to remove homeless encampments from streetsNew York City officials are planning to remove makeshift shelters set up by homeless people on city streets, mirroring similar efforts in other liberal metropolises that had previously tolerated the encampments.
South Florida nonprofit accused of going on 'Ellen,' misrepresenting charitable actions
Read full article: South Florida nonprofit accused of going on 'Ellen,' misrepresenting charitable actionsMIAMI - A South Florida nonprofit organization is being accused of going on national television and misrepresenting its actions to the nation, and some are demanding the organization set the record straight. "Explain the Old Navy thing? The Old Navy thing was great," Ellen asked. "The Old Navy thing was amazing actually. We would hope and expect that any such written submission would contain a more accurate description of Nest of Love's participation in the Old Navy event."
Local nonprofit accused of going on 'Ellen,' misrepresenting charitable actions
Read full article: Local nonprofit accused of going on 'Ellen,' misrepresenting charitable actions"Explain the Old Navy thing? The Old Navy thing was great," Ellen asked. "The Old Navy thing was amazing actually, we closed down Old Navy. "That statement alone, 'We shut down Old Navy,' is not true. We would hope and expect that any such written submission would contain a more accurate description of Nest of Love's participation in the Old Navy event."
Gap is in trouble; spinning off Old Navy up in the air
Read full article: Gap is in trouble; spinning off Old Navy up in the airPerhaps more troubling, Gap said that sales at Old Navy stores open at least a year slipped 4% during its most recent quarter compared with the same period a year earlier. For investors, the lack of a clear succession plan atop Gap and weakness at Old Navy are signs of trouble. "Weaker results at the [Old Navy] business reduce the upside potential to the value of a standalone entity," Dana Telsey, analyst at Telsey Advisory Group, said in a note to clients Friday. Old Navy, born in 1994, has been the top prize in Gap's often inconsistent brand portfolio. Old Navy reached $1 billion in annual sales in its first four years by hawking trendy, low-priced clothes.
Madewell, J Crew's denim brand, files for IPO
Read full article: Madewell, J Crew's denim brand, files for IPOSpencer Platt/Getty Images(CNN) - Madewell, J Crew's fast-growing denim brand, plans to split from its struggling parent company and hit the public market. While J Crew is known for selling preppy clothes at high prices, Madewell launched in 2006 as a boutique denim jeans' brand with tops and jackets that shoppers wear with jeans. As of August, Madewell company operated 132 small US stores, primarily in upscale shopping malls and on city street corners. A successful Madewell IPO could help J Crew pay down a "meaningful portion" of its debt. Libby Wadle, a veteran J Crew executive who has been involved closely with Madewell, will continue as the brand's chief executive.
Old Navy plans to open 800 new stores
Read full article: Old Navy plans to open 800 new storesJustin Sullivan/Getty Images(CNN) - Old Navy outlined plans Thursday to open 800 new stores, its first major announcement since the Gap, its parent company, announced it would spin off the lower-priced brand. Old Navy had 1,140 stores at the end of its fiscal year in February. Old Navy expects to open up around 75 stores a year, focusing away from struggling malls. The Gap said in February that it plans to spin off Old Navy into a public company in 2020. Old Navy will open stores at a moment when most of the industry is doing the opposite.
Flip flops for $1 at Old Navy
Read full article: Flip flops for $1 at Old NavyMIAMI – The temperatures outside may say otherwise, but summer doesn't officially begin until Saturday when the annual flip flop sale returns to Old Navy. On Saturday, June 15, the retail store will sell their popular flip flops for just $1 in the "One Dolla Balla Flip Flop Sale". That's right. Flip flops that usually sell for $3.99 will only cost you a buck on Saturday. Even better, you can win up to $24,000 if you find a pair of golden flip flops that will be hidden throughout each and every Old Navy store.