Tag: $Gap Inc

Gap’s sales were stronger than expected during its crucial holiday quarter, sending shares for the retailer climbing.

Gap shares soared 15% premarket on Friday, as a return to growth at all four of its brands after nearly two years encouraged the apparel retailer to lift its annual sales forecast in a robust start to the holiday shopping season.

Shares of Gap climbed about 23% in premarket trading on Friday after the apparel retailer raised its full-year sales forecast signaling that its turnaround strategy to bring in newer styles is starting to work.

Gap beat Wall Street expectations for fourth-quarter results on Thursday, buoyed by strong demand on improved product offerings at its Old Navy and namesake brands during the holiday season and lower markdowns.

Gap Inc. beat expectations in the third quarter, including a smaller-than-estimated drop in same-store sales, marking a strong opening quarter for new CEO Richard Dickson.

Gap reported mixed results on Thursday and underwhelming current-quarter guidance as the longtime mall retailer saw another quarter of declining sales across all four of its brands.

Gap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it’s making progress — and has managed to significantly improve its margins, which sent shares surging in extended trading.