Gap’s second-quarter net sales rose 5% to $3.72-billion, beating LSEG estimates of $3.63-billion
on Thursday surpassed Wall Street expectations for the second quarter, as a surprise early announcement of its results showed picky shoppers turned to its Old Navy and namesake brands to snap up trendy and fashionable clothing.
A Gap spokesperson told Reuters that the company’s second-quarter 2024 earnings results were briefly and accidentally posted on its website Thursday morning due to an administrative error.The Banana Republic owner is in the midst of a brand reinvigoration under CEO Richard Dickson and has been ramping up its stores with fresher and more chic styles to bring back lost customers.
“ is being managed better than it was … it is not like all four brands are really completely healthy, but they are trending in the right direction under the new management,” Morningstar analyst David Swartz said.
Gap Clothing Quarter Brand Forecast Navy Announcement Abercrombie & Fitch Banana Republic Old Navy
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