Gap posts surprise rise in comparable sales as Old Navy, Athleta boost online demand
FILE PHOTO: A Gap Inc. retail store is shown in La Jolla, California, U.S., May 17, 2017. REUTERS/Mike Blake
- Apparel retailer Gap Inc reported a 13% rise in quarterly comparable sales on Thursday, with shoppers buying Old Navy, Athleta and Gap clothing online as the company’s stores remained shut due to the COVID-19 pandemic.The San Francisco-based retailer reported a net loss of $62 million, or 17 cents per share, for the second quarter ended Aug. 1, compared to a profit of $168 million, or 44 cents per share, a year earlier.
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