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Business News

Old Navy commits to not to raise its prices on denim amid rising inflation

todayJuly 29, 2022

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RiverNorthPhotography/Getty Images

(NEW YORK) — With rising inflation leaving Americans with sticker shock across the board, families may be growing nervous as the back-to-school season nears.

To assuage hesitant shoppers, Old Navy has pledged to put a price lock on all of its denim.

The retail giant originally introduced its “Price ON-Lock” commitment not to raise prices on kid’s essentials in April — and now the company is extending its promise through the end of September.

The decision to extend that initiative comes as families are planning to spend on average $661 per child during back-to-school shopping — up from $612 in 2021 — according to recent survey data from Deloitte Insights. However, according to that same data, 57% of parents say they remain “concerned about the increase in [back-to-school] product prices due to inflation,” and 37% expect to spend more than in previous years.

“At Old Navy, we’re committed to staying true to our promise of democracy of style and service, and are confident in our ability to offer great style, fit and quality at competitive prices across all categories,” Andres Dorronsoro, Old Navy senior vice president and head of merchandising, said in a statement in May.

“Our customers, and parents in particular, are feeling the pressures of inflation and we want to assure them that they can outfit their children for summer and back-to-school with our everyday kids fashion essentials at a guaranteed price and value,” Dorronsoro added.

Now through Sept. 30, you can score price-locked picks from Old Navy with children’s items starting as low as $10.

Copyright © 2022, ABC Audio. All rights reserved.

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Written by: ABC News

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