Instant Alert: We went to Old Navy and saw why the brand is Gap's secret weapon

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   We went to Old Navy and saw why the brand is Gap's secret weapon by Business Insider on May 30, 2017, 11:12 AM 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: We timed our visit to Old Navy with the start of Memorial Day weekend sales. The first thing that struck us was the amount of clothing and accessories that were on sale. The store was awash with signs offering discounts ranging from 20% to 60% off.   There were also several clearance sections around the store. Even before discounts, however, Old Navy was still much cheaper than Gap. A basic women's cardigan costs $24.94 here. At Gap, it's $49.95 (now on sale for $25 with the Memorial Day weekend discount). See the rest of the story at Business Insider   Share the latest business news with your network:    Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011