简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:(Reuters) – Gap Inc slashed its forecast for quarterly sales on Thursday, blaming execution challenges at its Old Navy brand and “macro-economic dynamics”, sending shares of the retailer down 12% in extended trading.
Reuters – Gap Inc slashed its forecast for quarterly sales on Thursday, blaming execution challenges at its Old Navy brand and “macroeconomic dynamics”, sending shares of the retailer down 12 in extended trading.
Gap also said the head of its Old Navy brand, Nancy Green, was leaving the company this week and the companys Chief Executive Officer Sonia Syngal would lead the team until a successor gets hired.
Several apparel chains, including Gap, have struggled to keep up with rising demand and managing their inventories as supply chain snags delay shipments.
Gap now expects firstquarter sales to decline in the low to midteens percentage range from its prior guidance of mid to highsingledigit yearoveryear declines.
The retailer, which will report firstquarter results on May 26, said it had to take an “aggressive approach” to balancing inventory that led to increased marketing promotions, especially at Old Navy.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.