Latest news with #GapInc.
Bloomberg
02-07-2025
- Business
- Bloomberg
Stock Movers: Nike Jumps on Trade Deal, Amcor Gains Momentum, Molina Health Declines
On this episode of Stock Movers: Nike (TICKER NKE; +1.5%) - Shares jumped after US President Donald Trump said he reached a trade deal with Vietnam on Wednesday, though quickly reversed after the tariff was set at 20% with 40% tariff on 'transshipping' as part of a trade deal- Vietnam is a critical production hub for companies such as Nike Inc., Gap Inc. and Lululemon Athletica Inc., which count on the southeast Asian nation's factories to manufacture goods ranging from T-shirts to jeans to basketball shoes - Trump imposed a 46% tariff on Vietnam as part of a global campaign to reset US trade in April, which sent the shares of shoe and apparel companies tumbling Amcor (TICKER AMCR; +1.2%)- initiated with a buy recommendation at Jefferies, with the broker seeing a compelling risk-reward ratio and good earnings momentum for the packaging solutions group following its combination with Berry Global- Places price target at $12; shares closed Tuesday at $9.58 Molina Health (TICKER MOH; -20%)- Side-swiped in the Centene declines; shares are down 11% in the past five days and fell 12% in the past 30 days.- Trading volume 16% above the 20-day average at this time of day - Molina trades at 11 times its estimated earnings per share for the coming yea
Fashion United
24-06-2025
- Business
- Fashion United
Gap, Houdini and Target partner with Syre on commercial launch of circular polyester
Textile-to-textile recycling firm Syre has established a strategic partnership with Gap Inc., Houdini Sportswear and Target ahead of the commercial launch of its circular polyester product. All of the companies have agreed, within their own capabilities, to utilise the company's polyester, furthering both Syre's mission of reaching a broader audience and the partners' respective sustainability goals. While Gap has committed to using 10,000 metric tonnes per year of Syre's recycled polyester chip, Swedish outdoor brand Houdini has said that over three years it will source 50 percent of its polyester from Syre's production line. Meanwhile, as part of its mission for 100 percent of its owned brand products to be 'designed for a circular future by 2040', US retailer Target is partnering with Syre to incorporate recycled polyester into this associated range. In a release, Syre CEO, Dannis Nobelius, said the company was thrilled to announce partnerships with brands that represented different segments and sizes. 'They are truly front runners, understanding the need to secure the capacity of a scarce resource to be,' Nobelius continued. 'As we embark on the next phase of scaling at speed, we're confident that these collaborations will not only bolster commercial success but also help redefine the industry and drive the urgent shift towards true circularity.' Launched in March 2024, Syre is still building on its foundations. The company's first plant, located in North Carolina, US, is expected to be operational by 2026, and will have the capacity to produce up to 10,000 metric tonnes of circular polyester annually. By securing its new 'Launch Partners', the firm said it has come to a pivotal milestone in its journey, and intends to work closely with each brand to ensure seamless integration while aiding in the delivery of their circularity and decarbonisation targets. According to Syre, its circular polyester holds a quality 'on par' with virgin polyester. However, it has the ability to reduce CO2e by up to 85 percent compared to its oil-based counterpart.
Yahoo
24-06-2025
- Business
- Yahoo
Gap Inc. Measures Environmental and Social Impact
Gap Inc. released its 2024 Impact Report, outlining how the San Franscisco-based company is accelerating positive environmental and social impact and progressing toward its sustainable commitments. As a hero product for its Old Navy and Gap brands, denim was the focus of several sustainable accomplishments during the year, including Gap Inc.'s progress made related to water stewardship. More from Sourcing Journal EXCLUSIVE: Can Gap's AI Water Bet Fix a Leaky Supply Chain System? Gap Inc. Posts Q1 Sales and Profit Gains, Extending Its Streak of Quarterly Increases Crystal International Advances Smart Manufacturing The company's long-term Washwell initiative saved 1.1 billion liters of water in 2024, for a total of 6.0 billion liters saved since 2016. Washwell reduces water use in garment finishing by at least 20 percent compared to conventional wash methods, with program outputs validated by the World Resources Institute (WRI) in 2023. In 2024, 100 percent of Old Navy's and 100 percent of Gap brand's eligible denim met Washwell standards. The company plans to expand its impact. Currently, Washwell is led by denim assortments, but Gap Inc. said it is expanding to woven bottoms and garment dyed knits. In 2024, Gap Inc.'s denim vendor selection process prioritized suppliers with proven sustainability programs. Indian denim mill Arvind Limited proved to be an invaluable partner in Gap Inc.'s water stewardship goals in 2024. Together they eliminated the use of freshwater in Arvind denim mills by using purified municipal wastewater. Through this partnership Gap Inc. and Arvind aim to replace over 1 billion liters of freshwater annually with reclaimed wastewater, helping preserve the local freshwater supply. Additionally, Gap Inc. and Arvind launched the Global Water Innovation Centre for Action (GWICA) in India. The 18,000-square-foot facility is being used to pilot several infrastructure-related technologies to identify positive water impacts. GWICA's wastewater treatment plant relies on a Membrane Bio Reactor (MBR) first unveiled by Arvind and Gap in 2019. The technology allows for the treatment of domestic wastewater from the surrounding community without the use of harmful chemicals. Negating the need for fresh water in textile processing, the treatment plant also provides a source for reclaimed water to propel the manufacturing process. To expand impact, GWICA experts are designing a training curriculum to build capacity with suppliers across the region. Gap brand expanded sourcing of regenerative cotton through the Regenagri and Good Earth Cotton standards, notably in its denim assortment. The report said Gap continues to support nearly 2,500 farmers in their transition to certified organic cotton and is on track for transition to organic cotton in fall 2025. In general, Gap Inc. is closing in on its goal to source 100 percent of its cotton from sustainable sources by 2025. In 2024, 98 percent of its cotton was BCI, USCTP, organic, recycled or regenerative. Gap Inc. made strides in traceability. The company traced preferred fiber in over 82 million garments through the blockchain product traceability platform TextileGenesis. Suppliers continue to be onboarded to the platform as Gap Inc. increases the number of preferred fibers and orders traced to scale fiber traceability. Additionally, Gap brand piloted Traceable Better Cotton with a strategic supplier in India. Products from this pilot were on market during Fall 2024. The company is on track to meet its 2030 goals to reduce Scope 1 and 2 GHG emissions by 90 percent from a 2017 baseline and reduce Scope 3 GHG emissions from purchased goods and serves by 32.5 percent. More than half of its company-operated facilities globally are operating on renewable electricity. Gap Inc. consumed 28 billion liters of water in 2024. It reduced or replenished 14 percent of what it consumed or 3.9 billion liters of water. By 2030, the company aims to grow the amount to 100 percent. In collaboration with Global Water Challenge, Gap Inc. launched its first water replenishment project with Parmarth Samaj Sevi Sansthan to construct a groundwater recharge system, implement watershed restoration solutions, and provide technical water management training to local farmers. However, Gap Inc. is on the path to achieving net positive water impact in water-stressed regions. In 2024, the company formed roadmaps and began implementation of several initiatives to progress on 2030 goals. Gap Inc. demonstrated its dedication to respecting human rights across its direct operations and supply chain through continuous stakeholder engagement and rigorous due diligence. In 2024, Gap Inc. launched the Mill Compliance Agreement, which expands oversight to our Tier 2 mills nominated by our Tier 1 vendors. The aim is to increase upstream visibility to help ensure compliance with global regulatory requirements and human rights policies. The company also piloted wage tools with Tier 1 suppliers in Bangladesh, Cambodia, India and Vietnam to gather data on wages to better understand the fairness of payment systems and how worker wages cover their costs of living. Factory programs are growing and evolving. P.A.C.E. Workplace, a program to support the professional and personal growth of women garment workers since 2007, is transitioning to RISE, a program founded in 2023 that provides men and women training on topics such as communication, problem-solving, financial literacy, worker rights and responsibilities, and sexual and reproductive health. In 2024, 85 percent of Gap Inc.'s strategic factories participated in P.A.C.E. Workplace or RISE resulting in nearly 98,000 garment workers receiving training.
CNBC
14-06-2025
- Business
- CNBC
How Gap pulled off a turnaround
Gap was one of the defining American retail brands of the 1980s and 1990s, but it fell out of vogue for much of the 2000s. Now, with new leadership at the helm, the brand has revitalized its brand image. However, this turnaround story has been years in the making as parent company Gap Inc., which also owns Old Navy, Banana Republic and Athleta, had to clean up its balance sheet to get back to growth. Watch the video to learn more about the comeback of Gap and the challenges that still lie ahead.
Yahoo
03-06-2025
- Business
- Yahoo
EXCLUSIVE: Can Gap's AI Water Bet Fix a Leaky Supply Chain System?
Gap Inc. has signed a 10-year deal with Fido Tech to fund AI-powered leak detection across 350 kilometers of water pipelines in Bengaluru. 'Water resilience is a critical issue both for Gap Inc. and for the communities in which we operate,' Dan Fibiger, Gap's vice president of global sustainability, said. 'The collaboration has the potential to significantly improve water resilience for communities, industries and ecosystems in a region that faces growing demand and limited supply—it's fundamental to our efforts to bridge the climate gap in the context of our supply chain.' More from Sourcing Journal Waste360's Trashion Show Puts Circular Designs on the Runway EXCLUSIVE: Arvind, Fashion for Good's 'Near-Carbon-Neutral' Factory Initiative Seeks to Break Industry Paralysis Algolia's New Tech Aims to Help Companies Capitalize On Consumers' Increasing Trust in AI Meet Fido: A UK-based global technology company using deep learning to rapidly improve global water management and community water resilience at scale, specifically within leak detection and non-revenue water (NRW)—aka, water that gets 'lost' before reaching its intended end-user. Fido stated that water loss from leaks (aka NRW) is a major driver of water stress, especially since many leaks are hidden underground and difficult to detect. The World Bank estimates that roughly 30 percent of the world's water supply is lost in this way, although the rate varies across utilities. Emerging from the 2019 United Utilities Innovation Lab cohort—a 12-week program for emerging enterprises to collaborate with the UK's largest listed water company—Fido's sensor agnostic data-as-a-service (DaaS) platform functions as 'a microcosm of systems thinking for the water industry.' Billed as cutting-edge water leak detection technology, the AI platform and in-field device utilize multi-path data analytics algorithms to analyze both audio and kinetic signals, enabling the detection of leaks in pipe systems regardless of the material or existing infrastructure. For areas without embedded sensors, the company deploys its proprietary, capex-free mobile 'Fido Bug' devices along pipe networks to gather real-time data and generate leakage heatmaps across the network. Using these bugs with its proprietary Cloud Correlation technology, Fido claims it can locate leaks within a one-meter radius. The platform's AI-driven leak detection claims over 92 percent accuracy and offers estimated leak sizes—an edge that's earning attention in the smart infrastructure space. 'This insight removes human error from the detection process and prioritizes the leaks that matter,' according to global water solutions provider SKion Water, 'thereby improving efficiency, reducing leak runtime and, ultimately, water losses.' For reference, Fido was absorbed by the global water tech firm during a multi-million-pound acquisition (and follow-on investment led by Emerald Technology Ventures) in September 2022. SKion Water is a subsidiary of SKion GmbH, an investment company founded by Germany's richest woman and heiress Susanne Klatten. Fido said its results are verified using volumetric water benefit accounting and a global water stewardship standard, now spanning five continents. 'Water stress affects families, businesses, livelihoods and the environment,' Victoria Edwards, co-founder and CEO of Fido Tech, said. 'Places like Bengaluru are on the front line.' Also known by its colonial name, Bangalore is the largest city in Karnataka and a central hub for South India's garment industry. Nongovernmental organization Cividep India alleged that Bengaluru accounts for 20 percent of the republic's total annual garment production. It's also the region that saw thousands of garment workers forced to resign following pandemic-induced financial losses—in turn, losing half a billion dollars themselves in withheld severance, per the Worker Rights Consortium. To that end, Edwards continued, 'forward thinking companies' can tap in for an alleged-enduringly positive impact. 'By using their skills and resources to help accelerate of new technologies they contribute not just to immediate water replenishment; they help improve institutional capacity in utilities for the benefit of all consumers,' Edwards said. 'I am delighted to be working with such a talented team.' On the topic of this supply chain climate gap, Gap Inc.'s 83-page 2023 ESG report outlined the group's path to net-zero by 2050. This included updated water stewardship aspirations, such as to 'reduce water use and replenish water to nature, equivalent to 100 percent of the water used in manufacturing apparel and in our company-operated facilities' by 2030, per a March 2023 announcement. While Gap Inc. doesn't explicitly mention sourcing from a specific state, such as Karnataka, in its publicly available information, the company has significant sourcing operations in India and a dedicated team in Bengaluru, according to LinkedIn insights. Consider Gap as something of a four-quadrant group for Americana's middle market. The Old Navy owner collaborates with vendors that have facilities across 25 countries, according to the Yeezy collaborator's 2022 ESG report. China, India, and Bangladesh collectively account for approximately 76 percent of the group's total procurement spend, according to a 2022 CDP Water Security Questionnaire. That said, the 'supply chain climate gap' doesn't seem retailer (or revenue) specific. Consider Kering's internal analysis that was shared last week. It indicated that 66 percent of the luxury conglomerate's water consumption occurred during the production phase of raw materials. As the Balenciaga and Givenchy parent company keeps sourcing diversified—spanning several continents for its key materials—water scarcity doesn't seem region-specific, either.
