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.
More than 200 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in ...
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....
Fast Retailing, which owns the Uniqlo brand, has signed the Accord on Fire and Building Safety in Bangladesh. ...
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Fast Retailing has recorded strong same store sales growth in its Japanese Uniqlo stores during July thanks to good weather and strong demand for summer clothing....
China has retained top spot in the latest AT Kearney Retail Apparel Index, alongside strong performances from countries in Latin America and the Middle East....
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