Gap shares pop as company's holiday earnings blow past estimates, Old Navy returns to growth
Publishing timestamp: 2024-03-07 17:29:00
Summary
Gap's holiday earnings beat expectations with Old Navy returning to growth, but Banana Republic and Athleta are still dragging down sales and profits. Gap's overall gross margin surged, and the company's reported net income for the quarter was $185 million. CEO Richard Dickson is focused on reinvigorating the retailer's legacy brands and getting them back to growth. Old Navy saw sales growth, while Gap, Banana Republic, and Athleta struggled. Gap is working on improving fundamentals and strengthening its brands to drive more consistent results.
Sentiment: MIXED
Keywords: gap inc, business news, business, earnings, target corp, dividends, retail industry, breaking news: business, breaking news: earnings, mattel inc,
Source: https://www.cnbc.com/2024/03/07/gap-gps-earnings-q4-2023.html