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Gap Gets Rid of New Logo

Gap Inc. said it's getting rid of the new logo unveiled on its Web site last week in response to customer complaints.

NEW YORK (

TheStreet

) -- Just a week after a clandestine unveiling on its Web site,

Gap Inc.

(GPS) - Get Gap, Inc. Report

announced late Monday it's backing off its new logo.

"Last week, we moved to address the feedback and began exploring how we could tap into all of the passion," said Marka Hansen, the president of Gap Brand North America, in a

statement

posted on the company's Web site.

"Ultimately, we've learned just how much energy there is around our brand. All roads were leading us back to the blue box, so we've made the decision not to use the new logo on gap.com any further," the statement continued.

Hansen went on to say the company would go a different route if it decides to make changes in the future.

"There may be a time to evolve our logo, but if and when that time comes, we'll handle it in a different way," Hansen said.

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The decision on the new logo was one of

TheStreet's

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last week.

Gap shares closed Monday's regular session at $18.27, up 6 cents. Year-to-date, the stock is down about 13%. Last week, the San Francisco-based apparel retailer reported a 2% decline in same-store sales for September. Total sales for the five weeks ended Oct. 2 edged 1% higher year-over-year to $1.34 billion.

--

Written by Michael Baron in New York.

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