Gap Inc. reported a 61 percent increase in fourth-quarter profits on Thursday, capping a strong year that saw the company’s turnaround take hold.
The company’s latest performance, which includes the critical holiday period, shows how the company’s efforts to push brightly colored fashions, new designer collaborations and lively marketing campaigns are helping to invigorate sales after struggling for years to reclaim its fashion status.
“At the end of the day, we are looking at the consumer and saying we have to continue to give her reasons to buy,” Gap CEO Glenn Murphy told investors during a conference call. “If you’re going to win in this environment, doing the same thing all over again is not a winning strategy. We have to bring more and more uniqueness, differentiation and excitement to the business.”