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202
Fashion Jobs
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
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
By
Reuters
Published
May 28, 2021
Reading time
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Gap raises 2021 forecasts as apparel shopping gains momentum

By
Reuters
Published
May 28, 2021

Gap Inc raised its forecast for annual sales and profit, expecting an unabated surge in demand for new apparel as more people begin to step out and socialize after a year of hunkering down at home due to the pandemic.


First-quarter net sales surged 89% to $3.99 billion from a year earlier, beating expectations of $3.45 billion - Gap Inc


The San Francisco-based retailer's shares, which have gained nearly 75% this year, rose 2% in extended trading on Thursday after Gap swung to a first-quarter profit.

Following what is seen as a boom quarter for the retail sector, Gap is also reaping its benefits after having suffered at the peak of the health crisis last year that followed years of weak sales due to intense competition and a shift to online shopping.

Since last year's low, Chief Executive Officer Sonia Syngal has worked to revive the company's brands through celebrity partnerships, including those with rapper Kanye West's Yeezy and Olympic gymnast Simone Biles, and a focus on online selling.

"We saw a resurgence in summer fashion with dresses rebounding, showing that customers are emerging from the crisis wanting to express their style," Syngal said.

She expects digital sales to sustain even as store traffic returns, and demand for active and fleece apparel to grow as people look for comfort and convenience.

Gap expects fiscal 2021 net sales to grow in the low-to-mid 20% range from a year earlier, compared with its prior projection of mid-to-high teens rise.

Analysts were forecasting sales growth of 17.8%, according to IBES data from Refinitiv.

Gap sees diluted earnings between $1.55 and $1.70 per share, up from its prior forecast of $1.20 to $1.35.

First-quarter net sales surged 89% to $3.99 billion from a year earlier, beating expectations of $3.45 billion.

Net income stood at $166 million compared with a loss of $932 million. On an adjusted basis, Gap earned 48 cents per share.

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