Reported about 1 month ago
Gap Inc. experienced a temporary trading halt after prematurely releasing its Q2 earnings, which showed a 5% revenue increase to $3.72 billion and adjusted earnings per share of $0.54, surpassing analyst expectations. This marks the second consecutive quarter of sales growth, driven primarily by Old Navy and Gap, while other brands like Banana Republic and Athleta showed mixed results. As CEO Richard Dickson leads a turnaround strategy, Gap's stock increased nearly 3% in intraday trading, reflecting investor confidence amid economic challenges for middle-income consumers.
Source: YAHOO