Reported about 12 hours ago
Gap Inc. has reported better-than-expected second quarter earnings, driven by improvements in its namesake division and signs of recovery in Banana Republic, though Old Navy maintained steady performance. CEO Richard Dickson is optimistic about a turnaround for the brand, although the company has adjusted its full-year margin outlook due to potential tariff impacts, leading to a decline in shares. Despite inventory levels increasing and concerns over gross margin pressures, the company aims for modest sales growth in 2025.
Source: YAHOO