Gap Inc on Thursday forecast 2022 earnings above estimates, betting on strong demand for its Old Navy and Athleta clothing brands as Americans return to offices and social events thanks to declining Omicron cases.
Gap Inc on Thursday raised its full-year net sales forecast for the second time, betting on hot demand for its Old Navy and Athleta clothing brands as socializing makes a comeback with easing pandemic curbs.
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.
The American fashion group has announced that it has appointed IMG as its first ever exclusive multi-brand licensing representative, a partnership that opens the door for a range of cross-category product extensions.
Gap Inc warned on Thursday it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread coronavirus shutdowns that have crippled the business of clothing retailers globally.
Fashion and luxury brands worldwide have launched a wide ranging array of sustainable initiatives, timed to coincide with the 50th anniversary of the day dedicated to environmental reform on Wednesday, April 22.