1925 ET - Gap says Athleta sales will likely remain under pressure as it continues work to turn around the brand, a process it says remains in early stages. "We are increasing newness, reducing reliance on promotions, and seeking to rebuild customer engagement through better product and stronger storytelling," Gap CEO Richard Dickson says during a call with analysts. With those efforts in place, the company is taking a measured approach to inventory and marketing investments as it assesses customers' response in the second half of the year, he says. "While this approach may limit top-line improvement in the near-term, we believe it is important to rebuild the business on a stronger foundation for sustainable growth," he says.
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