×
332
Fashion Jobs
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Chatra
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager (up)
Permanent · Mirzapur
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - wb
Permanent · Cooch Behar
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
MUTHOOT FINCORP LTD
Area Manager - Chennai
Permanent · Chennai
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Katihar
VIJAY SYSTEMS ENGINEERS PVT LTD ( UMBERGOAN)
Production Manager
Permanent · Vapi
VIDVAS HR SOLUTIONS PRIVATE LIMITED
sr Manager - Production . Only Leather Bags Exp - Chennai
Permanent · Chennai
SHREE SADGURU MASALA & SPICES IND PVT LTD
Regional Sales Manager
Permanent · Navi Mumbai
MAGNATEK ENTERPRISES
Looking For Area Sales Manager
Permanent · Chennai
BANDHAN LIFE SCIENCE PRIVATE LIMITED
Area Sales Manager
Permanent · Kolkata
WINGS PHARMACEUTICALS
Area Sales Manager - Generic Division
Permanent · Ludhiana
FIRST SOLUTION
Agency Development Manager/Recruitment Development Manager(Insurance)
Permanent · Pune
NCL INDUSTRIES LIMITED (BISON PANEL)
Area Sales Manager - Hyderabad (Boards Division)
Permanent · Hyderabad
LN GLOBAL CAREER SERVICES LLP
Required Regional Sales Manager For Pharmaceutical Company
Permanent · Chennai
LN GLOBAL CAREER SERVICES LLP
Required Zonal Sales Manager For Pharmaceutical Company
Permanent · Chennai
LEVI'S
Group Product Manager
Permanent · Bengaluru
AVENUE SUPERMARTS LIMITED
Excellent Opportunity With Dmart _ Production Managers
Permanent · Chikmagalur
ENOAH I SOLUTION INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Bengaluru
KISHOR EXPORTS
Garment Technician
Permanent · Agra
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Delhi / Ghaziabad
Permanent · Ghaziabad
By
Reuters
Published
Nov 22, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gap's quarterly profit beats; Old Navy to exit China as spin-off continues

By
Reuters
Published
Nov 22, 2019

Apparel retailer Gap Inc nudged past tempered quarterly profit expectations and reiterated its plan to separate Old Navy from the namesake brand ahead of Old Navy's China exit in 2020.


Gap Inc


Gap replaced longtime Chief Executive Officer Art Peck with Robert Fisher, a member of the founding family, as its interim head nearly two weeks ago and cut its full-year profit forecast, blaming weak traffic and operating challenges across key brands.

“We continue to make progress against our separation plans, which will provide improved focus and a further catalyst for transformation,” said Fisher.

The San Francisco-based retailer, which has long struggled to grow sales at two of its flagship brands, reported net sales that fell 2.2% to $4 billion in the third quarter ended Nov. 2, but still beat the analysts’ average estimate of $3.96 billion, according to IBES data from Refinitiv.

“We are not pleased with the third quarter results and are focused on aggressively addressing the operational issues that are hindering the performance of our brands,” Fisher said.

Gap also said it would not sell its Old Navy apparels in China from early 2020 and instead would focus on its North America market to boost sales.

The retailer in February said it would separate its better-performing Old Navy brand, giving investors hopes that the standalone company would be able to show better results than the Gap brand.

Excluding items, the company earned 53 cents per share, compared with the analysts’ average estimate of 51 cents.

The company earlier this month said it was expecting to earn between 50 cents to 52 cents per share.

Gap’s shares, which have fallen 37% this year, were up about 3% in trading after the bell.

© Thomson Reuters 2021 All rights reserved.