Gap has been in the midst of a turnaround under CEO Richard Dickson, who has focused on better marketing and storytelling for the company's portfolio of brands.
Gap beat quarterly estimates on the top and bottom lines, leading the retailer to raise its full-year guidance.
The retailer behind Gap, Banana Republic, Athleta and Old Navy blew past earnings estimates and beat on revenue, too. Gap is now expecting net sales to be up "slightly," compared to its previous forecast of flat. The company is expecting gross margins to grow by at least 1.5 percentage points, compared to earlier guidance of at least a half a percent.
"We were so excited to see in the marketplace and also dropped to consumers so that they had an opportunity to buy it," said Dickson. "We continue to believe again, that the better storytelling through marketing and innovative media is resonating."
Gap Inc Breaking News: Business Breaking News: Earnings Earnings Business Retail Industry Business News
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.
Gap CEO Says Sustainability Requires Team PlayGap CEO Richard Dickson talks the company's sustainability strategy, including teamwork, cotton and clean water.
Read more »
Brittney Griner ABC special: How to watch ‘Prisoner in Russia’ 20/20 interview freeWNBA star Brittney Griner sits down with ABC news' Robin Roberts to talk about her hellacious 9-month detainment in Russia. Here's how to watch the 20/20 special for free on multiple streaming services.
Read more »
How to watch Brittney Griner 20/20 interview with Robin Roberts, free live streamABC News’ Robin Roberts will sit down with Griner in a new 20/20 special airing Wednesday, May 1 at 10 p.m. Here's how to stream if you don't have cable.
Read more »
HCSO rescue teams pull at least 20 people, 20 pets from Channelview neighborhood'I lost everything. Everything's flooded,' a Channelview homeowner spoke to ABC13 as she tries to recover from the harsh floods this week.
Read more »
20 Of The Funniest Tweets About Married Life (May 14-20)Kelsey Borresen is a senior reporter at HuffPost Life, covering love, sex and relationships. She is a graduate of the University of Southern California's Annenberg School for Communication and Journalism and lives in Los Angeles.
Read more »
Brittney Griner Says She Considered Suicide in Russian ConfinementBrittney Griner spoke with Robin Roberts on the Wednesday, May 1, episode of ’20/20'
Read more »