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Fashion Jobs
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Category Manager/sr. Manager-Institutional Sales - Garments Industry
Permanent · Bhiwandi
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
OMREELS BIOSCOPE PVT LTD
Senior Executive Ecommerce
Permanent · MUMBAI
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
NIKE
Service Delivery Manager, Sap & Omdl (Order Management & Delivery) – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, Batch & bi – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, HR/Finance & Payroll – Tech Ops
Permanent · Bengaluru
NIKE
Senior Cyber Security Analyst – Cis
Permanent · Bengaluru
By
Reuters
Published
Aug 28, 2020
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Gap posts surprise rise in comparable sales as Old Navy, Athleta boost online demand

By
Reuters
Published
Aug 28, 2020

Apparel retailer Gap reported a surprise 13% rise in quarterly comparable sales on Thursday, as consumers stuck at home due to the COVID-19 pandemic bought more of its Old Navy and Athleta clothing online.


Same-store sales rose 13%, compared with analysts’ forecast of a 20.97% fall, according to IBES data from Refinitiv - Gap Inc.


People working or studying from home have been stocking up on comfortable “stay at home” clothes including fleece and activewear, boosting demand for the company’s budget-friendly Old Navy brand, athleisure label Athleta as well as Gap clothing.

Same-store sales rose 13%, compared with analysts’ forecast of a 20.97% fall, according to IBES data from Refinitiv.

The San Francisco-based retailer said it nearly doubled its e-commerce business for the quarter ended Aug. 1, with about 50% online penetration, and added about 3.5 million new customers.

“We won in the value space with Old Navy, and we won in the premium space of Athleta,” Chief Executive Officer Sonia Syngal told analysts, adding that the company sold about $130 million worth of masks alone.

While the company expects demand for the two brands to fuel sales, it plans to close over 225 unprofitable Gap and Banana Republic stores globally as a part of its restructuring plan.

The back-to-school season, one of the busiest periods for the company, could extend longer and Gap is ready with the “right assortment” for kids whether they are learning at home or in a classroom, Syngal said.

Gap reported second-quarter net loss of $62 million, or 17 cents per share, compared to a profit of $168 million, or 44 cents per share, a year earlier.

Net sales fell about 18% to $3.28 billion, but were above expectations of $2.91 billion.

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