Gap adds eight more European countries to online presence
San Francisco — Gap said Wednesday that it has expanded its Gap and Banana Republic online presence to eight additional European countries through its dedicated European e-commerce sites.
Gap debuted the dedicated sites in the United Kingdom in August 2010 and then expanded to include nine additional European countries in October 2010. The newest announcement brings the total reach of it European e-commerce business to 18 countries.
“We’re excited to accelerate Gap’s global online expansion and extend our exceptional online experience to more European customers,” said Stephen Sunnucks, president, Gap Inc. Europe and Strategic Alliances. “Launching in eight additional European countries underscores the loyalty and enthusiasm customers in Europe have shown for our online brands since the sites launched last August.”
Gap said it is focused on executing its global growth strategy. It opened its first Gap and Banana Republic flagship stores in Italy in 2010, and its first company-owned Gap stores and online retail site in China.
Jones Group reports revenue rise in Q4
New York City — The Jones Group reported Wednesday that revenues for the fourth quarter rose 12.5% to $874 million, from $777 million in the year-ago period.
The company attributed the fourth quarter performance to the June 2010 acquisition of the Stuart Weitzman business, as well as increases in various business segments.
Jones Group closed 44 retail locations in the fourth quarter to end the year with 803 locations (which includes acquired Stuart Weitzman locations). The company closed 194 locations in 2010.
Stater Bros. profit decreases in fiscal Q1
San Bernardino, Calif. — Supermarket retailer Stater Bros. Holdings said Wednesday that net income for the quarter ended Dec. 26 dropped to $1.3 million, compared with net income of $6.7 million in the year-ago period. The prior year results included an after-tax gain of $4.7 million.
Sales declined 2.3% to $899 million in the first quarter. Same-store sales also decreased 2.3%.