CFDA Celebrates Scholarship Winners as Gap Inc. Faces Sales Challenges
By Editor • August 28, 2026 • 1 min read
The Council of Fashion Designers of America (CFDA) has announced the winners of its 2026 Scholarship Fund, a milestone celebration marking the fund's 30th anniversary. This year, the CFDA received nearly 700 applications and awarded scholarships to 24 outstanding students across seven programs, five of which are newly introduced. Recipients will benefit from financial support ranging from $10,000 to $50,000, alongside opportunities for mentorship and internships with esteemed brands such as Carolina Herrera, Saint Laurent, and Tiffany & Co.
In a contrasting note, Gap Inc. reported a 2% decline in sales for its second quarter, totaling $3.65 billion. This downturn, attributed primarily to seasonal sales misses at Old Navy, marks the end of a 10-quarter growth streak. The company is also undergoing leadership changes, with Michael Francis, a former executive at Target and JCPenney, set to take over as president and CEO of Old Navy on November 2, succeeding Haio Barbeito.
Source: fashionista.com
