FILE PHOTO: People pass by the GAP clothing retail store in Manhattan, New York, U.S., August 15, 2016. REUTERS/Eduardo Munoz /File Photo
- Gap Inc posted quarterly same-store sales that fell short of analysts’ estimates on Thursday, as Old Navy suffered its worse comparable sales figures in three years ahead of a planned spin-off of the brand.Old Navy, which offers more affordable clothing and accessories, has been a bright spot for the company in the past. But quarterly same-store sales fell 5%, much worse than the 1.11% decline Wall Street expected, according to IBES data from Refinitiv.
“We are operating in a challenging environment, but I remain confident in the strength of our brands and our plans for the future as we work to launch two independent, public companies,” Chief Executive Officer Art Peck said. Overall, sales at the company’s Gap, Old Navy and other stores open for at least a year fell 4% in the second quarter ended Aug. 3, compared with analysts’ estimates of a 3.09% drop, according to IBES data from Refinitiv.
The San Francisco-based company said net income fell to $168 million, or 44 cents per share, from $297 million, or 76 cents per share, a year earlier.
I thought that company was already buried with sears and circuit city
Gap is a hopeless middle ground market.. what is its purpose?
What? Really? No one wants shoddy, mass produced clothing? Why ever not?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
On Black Women’s Equal Pay Day, Here's How Women Are Fighting To Close The GapFor black women, August 22, eight months in 2019, is the date they must work until to achieve the same pay that their white, non-Hispanic male colleagues made at the end of 2018. brianne_garrett This is no wage gap brianne_garrett Wait a minute ... you want white men to care about blacks that openly hate my white skin NOPE LOL … not just no .. but F' NO
Source: Forbes - 🏆 394. / 53 Read more »
On Black Women’s Equal Pay Day, Here's How Women Are Fighting To Close The GapToday is BlackWomensEqualPayDay, the point in the “new year” at which black women’s earnings match those of white men from the year before. For every $1.00 a white man makes, a black woman makes $0.61. Here's what women are doing to mark the day: The gap matters for so many reasons: wealth creation, retirement savings, even happiness and senses of belonging at work. BlackWomenEqualPayDay Gee... I wonder if biased articles focused on men could have any impact on the perception that WOC are less valuable than white men (some who are probably shitty at their jobs)? I’m sorry, was I being too innovative for ya? Forbes Is that base on average of black women too white men. Or based on position.
Source: ForbesWomen - 🏆 477. / 51 Read more »
On Black Women’s Equal Pay Day, Here's How Women Are Fighting To Close The GapFor black women, August 22, eight months in 2019, is the date they must work until to achieve the same pay that their white, non-Hispanic male colleagues made at the end of 2018. Keep the fight! woman do get equal pay if they do the equal work. this is why the MSM is the enemy, can't even system some hinges so obvious so it needs to pander to those that idiotically believe such nonsense to spread division sorry women of any other race... 🙃
Source: Forbes - 🏆 394. / 53 Read more »
Black and Latina women are losing out on $1 million because of the gender pay gapA black woman would have to work until age 86 just to make the same amount of money a white man earned by age 60. comparing women's earning power to a man's is disingenuous on several levels. Tall men make more then short men. Good looking people make more then unattractive people. This is bullshit science. Good luck making life fair🙄 oakdream8 Do you guys think the 'gender pay gap' is a reified, tangible mechanistic causal agent in itself?
Source: MarketWatch - 🏆 3. / 97 Read more »
How Minda Harts Is Helping Black Women Close The Pay Gap For GoodMinda Harts knows that a big driver of her success was to actively become the curator of her career.
Source: ForbesWomen - 🏆 477. / 51 Read more »