Clothing retailer struggling with Covid-induced sales slump

Websites will remain open for shoppers

Parent company is splitting in two with Old Navy being hived off

Gap improved sales but 10% increase in the cost of sales led the company to a loss-making position

Online shopping is a huge boon for the time-poor, but beware the many pitfalls

Thanksgiving holiday shopping splurge sees $1.52 billion spent online in US

Retailer is trying to recover from five straight quarters of falling sales

Volkswagen’s Mr Lies, Brazil’s Museum of Tomorrow and Pope Francis on capitalism

Stefan Larsson, global president of Gap’s Old Navy division named as new chief executive

Banana Republic and Gap chains still outpaced by lower-end Old Navy business

Iconic US retailer is closing a quarter of its 675 US stores after it fails to compete with fast fashion retailers like Zara and Penneys

Online petition to get retailer to stop charging more for larger clothes gets 36,000 signatures

Gains are attributed to lower-price Old Navy sales as share price rises to 75 cent