Gap is looking to Parker Posey to continue momentum around its business, with the launch Thursday of the San Francisco company’s latest ad campaign.
The company’s “Feels Like Gap” campaign for spring touts the Gap’s collection of basics, including carpenter jeans, cropped T-shirts and denim jackets and pants.
Gap’s latest campaign includes a digital lookbook, video, social and in-store marketing.
The rollout comes as parent Gap Inc. looks to continue sales growth in its namesake business under President and CEO Richard Dickson. The former Mattel president was tapped for the top spot in 2023, charged with breathing new life across the company.
For Gap, the brand, things appear to be sticking.
Gap generated net sales of $899 million, up 1 percent, in the company’s fiscal third quarter ended Nov. 2. That was the fourth straight quarter of revenue growth for the brand.
“Consistent execution of our strategic priorities, including the rigor and repetition we’re applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.’s full potential,” Dickson said at the time of the November earnings update.
To Dickson’s point on repetition in the “brand reinvigoration playbook,” the campaign with Posey is the latest in a series of high-profile marketing initiatives for the Gap brand.
Earlier this month Gap and Harlem’s Fashion Row collaborated on a 16-piece collection. The collaboration includes the work of six Black designers, launched in conjunction with Black History Month. There was also the launch of GapVintage, which built upon the relationship with Sean Wotherspoon. The year-long deal will include drops curated by Wotherspoon, who co-founded sneaker retailer Round Two.
Business Sense
Gap Inc. raised its full-year outlook in November when it reported its fiscal third-quarter results.
The updated outlook expects net sales for the fiscal year to be up 1.5 percent to 2 percent. That compares with previous guidance of “up slightly” from the prior year’s $14.9 billion.
The company also owns Old Navy, Banana Republic and Athleta.
Overall, companywide net sales in the November quarter rose 2 percent from the year-ago period to $3.8 billion. Same-store sales increased 1 percent.
Online drove the company’s results with a 7 percent uptick in sales, accounting for 40 percent of the total business. That more than made up for the physical stores’ 2 percent decline in the quarter across its fleet of over 3,600 doors.
Net income in the quarter was $274 million, compared to $218 million a year earlier.
Gap Inc. is expected to report results for its fiscal fourth quarter and full year on March 6.
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