Published on 11 Mar 2024 on Benzinga via Yahoo Finance
Holiday Quarter Magic Got Gap On Track To Reinvigorate Its Brands
Last Thursday, The Gap Inc (NYSE: GPS) topped analyst estimates with its fourth fiscal quarter results thanks to financial and operational discipline, along with a demand rebound for its namesake brand. The clothing retailer has been losing customers to its rivals, such as Shein and Amazon.com Inc (NASDAQ: AMZN) and although it still isn’t back to sales growth, its margins are showing it is getting better. Although Gap did start to turn things around, it is also expecting a rough year ahead for consumers, like its peers Ross Stores Inc (NASDAQ: ROST), as well as Victoria’s Secret & Co (NYSE: VSCO) who along with Foot Locker (NYSE: FL) had a rough quarter.
Fiscal Fourth Quarter Highlights