President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
A 7-year-old blind pianist and 13-year-old electric-guitar player, rocking out to "Sweet Child O' Mine" are the stars of Gap's newest ad campaign.
The videos, which rolled out last week on Gap's social media channels, are also a step to focus Gap's identity — something the company has been aiming for after announcing in February it would spin off Old Navy into a separate, publicly traded company.
On an earnings conference call in May, CEO Art Peck had signaled this push.
"You'll also see Gap brand reinvest in marketing, kids and baby business with a strong back-to-school push later this year. This is especially important given that market share is now up for grabs, and this is a clear opportunity for Gap brand given its strong equity in kids and baby," he said.
Some children's clothing retailers, such as Gymboree, have gone out of business, while others, including Children's Place, have closed stores, providing a possible opportunity to win market share.
The back-to-school season is the second-busiest time of year for retailers after the winter holidays. This year, parents are expected to spend $27.8 billion on clothing, electronics and school supplies, according to a survey by Deloitte.
"The Gap Back to School 'Forward' campaign was designed to spark conversation, celebrate self-expression and propel the next generation in the direction of their strengths," said Alegra O'Hare, Gap's chief marketing officer. "... We want to give kids the confidence they need to pursue their passions and inspire them to break boundaries."
But the campaign might not be enough to clarify the brand's image to consumers, according to Jan Kniffen, a retail industry consultant.
"Gap has been struggling to find their identity for 15 years," he said. "It needs to be reinvented. It's just a mishmash of men's, women's and children's clothing. They're in an extraordinarily competitive environment, and they have nothing unique."
Kniffen added: "One campaign is not going to change anything for the Gap. If they can follow this up with more innovative, interesting, catch-your-attention ideas, it could be a start."
The spinoff also is part of this effort. Peck has said the split would help each company create a "sharpened strategic focus and tailored operating structure."
Old Navy is the company's most successful brand, and has regularly accounted for more than 40% of the entire company's annual sales. After the announcement, the stock surged more than 20%, but Gap shares are still down about 25% since January. The company has a market cap of around $7 billion.