Reported 2 days ago
Gap's shares dropped 20% after the company warned that U.S. tariffs would negatively affect profits this year, despite efforts to diversify its supply chain and invest in U.S. cotton. The apparel maker highlighted potential expenses of up to $300 million due to tariffs, which could impact margins into 2026. Analysts have adjusted price targets for the stock as it navigates the uncertainty of trade policies under President Trump's administration.
Source: YAHOO