default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Gap Reports Surprise Rise in Comparable Sales Fueled by Online Demand

Analysts had forecast a 20.97 percent fall in comparable sales, but the company reported a 13 percent rise.
Gap集团旗下Old Navy出售的印花口罩 | 图片来源:品牌
By
  • Reuters

SAN FRANCISCO, United States — Apparel retailer Gap Inc reported a 13 percent rise in quarterly comparable sales on Thursday, with shoppers buying Old Navy, Athleta and Gap clothing online as the company's stores remained shut due to the COVID-19 pandemic.

Analysts had forecast a 20.97 percent fall in comparable sales, according to IBES data from Refinitiv.

The San Francisco-based retailer reported a net loss of $62 million, or 17 cents per share, for the second quarter ended Aug. 1, compared to a profit of $168 million, or 44 cents per share, a year earlier.

By Nivedita Balu in Bengaluru; Editor: Vinay Dwivedi.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

New CEO Tony Spring’s plan to shutter stores and improve products echoes previous efforts for revitalisation. To pull it off this time, the retailer must deliver transformational changes in the shopping experience.


In a partnership with resale service provider Reflaunt, the global logistics giant now offers a fulfilment, shipping and platforming solution for brand clients interested in entering the secondhand space.




view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024