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Gap Is Righting the Ship With Old Navy
Money

Gap Is Righting the Ship With Old Navy

Is Gap cool again?Maybe not yet, but it is looking more on trend than it has in a long time. The company, which also owns Old Navy, Banana Republic and Athleta, on Thursday reported that comparable sales fell 2% in its quarter ended Oct. 28. That was much better than the 7.4% decline that Wall Street analysts polled by Visible Alpha had expected. Net income of $218 million was more than three times the number analysts had penciled in. Gap’s shares jumped 15% in after-hours trading following the company’s earnings call on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Gap Is Righting the Ship With Old Navy
World

Gap Is Righting the Ship With Old Navy

Is Gap cool again?Maybe not yet, but it is looking more on trend than it has in a long time. The company, which also owns Old Navy, Banana Republic and Athleta, on Thursday reported that comparable sales fell 2% in its quarter ended Oct. 28. That was much better than the 7.4% decline that Wall Street analysts polled by Visible Alpha had expected. Net income of $218 million was more than three times the number analysts had penciled in. Gap’s shares jumped 15% in after-hours trading following the company’s earnings call on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8