Sales of US retailer Gap fell in the third quarter by 7%


In the third quarter, comparable sales of US retailer Gap in stores operating for at least a year decreased by 7%. Experts had predicted a less significant drop - by 4%. The growth in sales of the Old Navy brand by 4% also did not reach the forecasts of economists, who had expected a rise of 4.65%. At the same time, quarterly profit, excluding one-time balance items, in the amount of 69 cents per share was 1 cent higher than experts' forecasts. Net sales for the quarter amounted to 4 billion 90 million dollars, an increase of 6.5%. Analysts had predicted a figure of 4 billion dollars.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong