US: Gap coy on Fast Retailing takeover talk
Gap's share price rose nearly 8% to US$33.80 at midday on Friday (15 February), fuelled by rumours of a potential takeover, according to a report on CNBC.
However, a spokesperson for Gap told just-style today: "We do not comment on rumours or speculation."
Fast Retailing, meanwhile, has not yet responded to requests for comment.
Fast Retailing, which operates the Uniqlo casual clothing brand, last month said it expects to book record sales and profits in its current financial year after reporting "considerable gains" across its business during the first quarter.
Last November, Fast Retailing said it will acquire an 80.1% stake in fashion firm J Brand as it looks to strengthen its position in the US.
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Fast Retailing Co Ltd aims to strengthen its position overseas to become the world’s number one apparel manufacturer and retailer. The company announced that it has a target to achieve annual group sa...
Apparel Retail in Asia-Pacific industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). The profile also contai...
Specialty clothing retailer Gap Inc has booked an 8% rise in sales for the second quarter, boosted by increases at Old Navy and its namesake brand....
Apparel Retail in China industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). The profile also contains desc...
Fast Retailing, which owns the Uniqlo brand, has signed the Accord on Fire and Building Safety in Bangladesh. ...
The Gap Inc offers casual, mid-tier clothing to Mexican consumers through department stores and recently in 2012 by opening its first flagship Gap store in the country....
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