Gap CEO Richard Dickson reveals how he is beginning to turn around the long-struggling apparel retailer.
Same-store sales growth was positive across all four of Gap’s brands: Old Navy, Gap, Banana Republic, and Athleta. The company had previously predicted growth would range in the low-to-mid teens. Under new CEO Richard Dickson, Gap has been trying to reassert its dominance within the world of fashion retailing in the hopes of staging a comeback a la Abercrombie & Fitch.
Clothing and accessories retailer The Gap (NYSE:GPS) reported Q1 CY2024 results exceeding Wall Street analysts' expectations, with revenue up 3.4% year on year to $3.39 billion. It made a GAAP profit of $0.41 per share, improving from its loss of $0.05 per share in the same quarter last year.