USA: Gap Profit Plunges To $37 Million
Troubled clothing retail giant Gap Inc on Thursday saw its woes continue as it posted a steep 68 per cent slide in first quarter earnings to $37 million from $115m in the year-ago period. The San Francisco-based operator of 4,228 stores said sales fell nine per cent to $2.9 billion as they were hit by 18 per cent lower inventory and heavier markdowns.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Trump and the apparel industry – Infographic
- How US border adjustment tax could affect apparel
- British Brexit plans prioritise tariff-free trade
- Apparel factory auditing is in the firing line
- $1.7bn package to boost Pakistan clothing exports
- Cambodia clothing exports at risk from Brexit
- Apparel brands urge Bangladesh PM to address wages
- New project to digitalise European fashion chains
- Brands need to tackle Turkey factory refugee abuse
- JC Penney to roll out hundreds of Nike "shops"
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016