Here's one pivot that did pay off: Gap's, to face masks.
The company — which owns Gap, Banana Republic, and Old Navy — jumped into selling face masks early in the pandemic, a decision that ultimately brought it a whopping $130 million in sales, CNBC reports based on the company's reported quarterly earnings. Gap Inc.'s sales were both to individuals and in bulk, including to the city of New York and the state of California.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
'The House GOP is begging to lose their majority'Instant Opinion Opinion, comment and editorials of the day
-
Pig kidney transplant recipient diesSpeed Read Richard Slayman has passed away two months after undergoing the historic procedure
-
Putin replaces defense minister with economistSpeed Read In a surprising shake-up, Putin replaced Sergei Shoigu with civilian economist Andrei Belousov
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
