Jun 1, 2022

Walmart and Gap on Wednesday (June 1) launched Gap Home Kids, an online-only line of more than 200 products across bedding, bath, pillows, throws, rugs and window treatments priced from $20 to $79, according to a company blog post . “At Walmart, we believe great style doesn’t have to be expensive,” wrote Anthony Soohoo, executive vice president, Home, Walmart U.S. “We have spent the past several years on a mission to democratize style by building our home assortment with high-quality, stylish — and often exclusive — home goods at an incredible value. “Our partnership with Gap is a big part of that strategy as we continue to expand into new categories following the introduction of Gap Home last summer and Gap Home Furniture in the fall.” The Gap Home assortment includes furniture, décor, tabletop, bedding and bath options. Gap Home Kids features bedding, curtains, rugs and room accents, according to the blog post. Highlights from the collection include comforters and sheet sets, towels, rugs, shower curtains, area rugs and accents. “With the new Gap Home Kids line, we are expanding into home categories to meet the home décor and furniture needs for the entire family, at low prices that are parent-approved and styles that are kid-approved,” Soohoo wrote. “Gap Home Kids is one more way we are democratizing style and helping customers create home spaces they love at the affordable prices they can count on at Walmart.” Last month, Walmart said it would be making adjustments after posting its biggest earnings disappointment in at least five years. Although the retailer’s first-quarter top-line revenue grew 2.4% for the three months ending April 30, the costs involved in making those sales, as well as paying its 2.3 million employees, were unexpectedly high. This combination not only crimped margins, but also reduced its bottom-line profit by 23%. The Arkansas-based operator of 10,500 stores said its Q1 sales of $142 billion were led by a 3% gain in U.S. same-store sales, where the retailer said it was able to gain share in its lucrative grocery business. ——————————