The Old Navy has commenced a website Oldnavyweekly.com, which will offer all hidden Old Navy weekly in-store coupons and also some exclusive promotions to keep you marvelous.
This clothing retailer and the open and original Gap Inc. offshoots has launched a new ad campaign on Thursday which is flier patterned and similar to celebrity magazine, a bevy of mock-models it is calling "Supermodelquins" and a renewed focus on its target market of young moms.
The consumers now can control on the optional spending and can also bargain, Old Navy is known for value offerings and is well balanced. Before there was a tough competition and an unfocused brand message which had hurt its outcome. Old Navy was opened in 1994, and had sparkled and taken the benefits for several years with its growing sales and profit. But the past few years brought them to an increasing drag on parent Gap and had an experience of sinking sales.
Old Navy's sales in stores open at least a year, known as same-store sales, dropped a sharp 34 percent in January. That compares to an 18 percent drop at Gap-branded stores and a 22 percent drop at their sister chain, banana republic.
Morningstar analyst Joseph Beaulieu said "When Old Navy launched it was an iconic brand, an early mover into the budget-priced but still somewhat trendy family apparel business," "Since then, a lot has changed, and there's a lot of competition."
In the mean time the retailers such as Target Inc. and Kohl's Inc., among others, have since blossomed in the same space. Old Navy President Tom Wyatt who is 53, took the wheel by acting as a president in the last year, and is the first to say the company strayed when it shifted its focus over the last two years from moms with young children to teens and "fast fashion."
"We walked away from our customer," said the President citing at the ad campaign which featured a gold-lame bikini in last April. "That is not what a 25- to 35-year-old mom is looking for," he said.
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