The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Gap Inc. is reporting a 12.5 percent drop in fourth-quarter profit on a 3 percent decline in revenue as the clothing retailer was forced to discount heavily over the holiday shopping season to entice customers.
The clothing chain, which operates Gap, Old Navy, Banana Republic and Athleta, issued a profit outlook for the full year that is below analysts' expectations.
The retailer, based in San Francisco, reported net income of $307 million, or 68 cents per share, in the three-month period ended Feb. 1. That compares with $351 million, or 73 cents per share, in the year-ago period.
Gap posted revenue of $4.58 billion, down from $4.73 billion.
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Analysts were expecting 65 cents per share on revenue of $4.58 billion for the quarter.
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From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.