Retail

Gap (GPS) reports Q4 2020 earnings, 2021 sales outlook

0


A man walks past a store on January 12, 2021 in New York City.

Angela Weiss | AFP | Getty Images

Gap Inc. on Thursday predicted a bounce back to sales growth in 2021, hopeful that customers will soon return to its stores and spend more money on apparel as they look to resume some social activities.

Its shares shot up more than 4% in after-hours trading.

The apparel maker reported fourth-quarter sales that came up short of estimates, as the ongoing coronavirus pandemic forced temporary store closures in Europe, parts of Asia and Canada. But it swung to a profit, thanks to its efforts to sell more merchandise at full price and progress it made shuttering underperforming stores.

It showed…



Source cnbc.com

Morgan Stanley raises GE target to $17, a high among Wall Street banks

Previous article

John Kerry talking to banks, asset managers about clean energy

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Retail