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.
SAN FRANCISCO, United States — Gap Inc. is raising its earnings outlook after delivering a solid sales performance during the critical holiday shopping period.
The San Francisco, California-based company said fourth-quarter revenue at stores opened at least a year rose 2 percent.
By division, Gap's namesake stores saw the key measure unchanged, while Old Navy enjoyed a 5 percent gain. Banana Republic posted a 3 percent decline.
The clothing chain has been trying to recover from a long-running malaise.
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Gap said it now expects earnings for the fourth-quarter to be 50 cents to 51 cents per share on an adjusted base. Analysts surveyed by FactSet had been expecting 44 cents per share.
Gap's stock rose more than 3 percent in after-market trading.
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.
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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.