Friday, November 17, 2017

Gap beats third-quarter sales estimates, raises full-year forecasts

Image result for the gapGap Inc reported quarterly results that beat estimates, driven by turnaround efforts to revive its Gap and Old Navy brands, and the clothing retailer raised its 2017 earnings and same-store sales forecasts.

Gap, like many other apparel retailers, had witnessed declining fortunes across its categories due to changing habits of consumers and an affinity to online shopping.

In response, the company has been stepping up investments to refresh its underperforming lines, spruce up online offerings and shorten the time taken to replenish clothes at its Old Navy and Athleta stores.. . . more

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