Global apparel and accessories retailer Old Navy will be running a massive promotional sweepstakes in the week leading up to Black Friday.
A grand prize of $100,000 will be doled out from Nov. 18 through 25 to one lucky winner each day, along with thousands of other, smaller prizes. Prize offerings include free chips and guacamole from Chipotle (potentially the most highly sought-after prize on the list), Coke products, movie tickets, free shipping and $25-off coupons for Tiny Prints. Scratchers will be given out in-store, though online shoppers can enter to win the grand prize on Old Navy’s website.
The entire store will be 50 percent off from Wednesday, Nov. 23, through closing on Black Friday. Cyber Monday deals will be more akin to a cyber weekend sale, with 40 percent off on Saturday and Sunday and 50 percent off online purchases on Monday.
The 2016 fiscal year wasn’t the kindest to Old Navy or its head, Gap Inc. Sales suffered after the departure of Stefan Larson in late 2015. Q1 earnings for Old Navy were down 6 percent. Old Navy was forced to shut down operations in Japan in May of this year along with some Banana Republic locations in North America. In August, total sales for the Gap were down $3.85 billion from $3.9 billion year to year despite turnaround efforts.
The second half of 2016 has seen a modest turnaround for the Gap and its divisions, with Old Navy leading the charge at 4 percent growth in October — on par with 2015 sales figures. With the upcoming promotional efforts, it appears as though Old Navy and Gap are putting Black Friday’s namesake to the test. We’ll see if it pays off soon enough.
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