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Old Navy Returns to Form in June

Rivet’s 2021 winter issue has dropped! This in-depth issue examines the steps the global denim industry is taking to minimize its impact on the environment, from implementing zero waste production and design processes to establishing greenhouse gas emissions goals aligned with the Paris Agreement.

Old Navy has ended its streak of poor results.

Gap Inc. shares (GPS) rose more than 7 percent in early trading Friday after the San Francisco-based operator of Gap, Old Navy and Banana Republic reported that net sales for the five weeks ended July 2 rose 2 percent to $1.57 billion.

That increase was mostly down to the fact that total same-store sales were up 2 percent last month, versus a 1 percent decrease in June 2015. Analysts had expected a 3.6% drop.

Read more at Sourcing Journal.