Gap Inc . Reports Third Quarter Fiscal 2023 …

Gap Inc . Reports Third Quarter Fiscal 2023 Results

The world s biggest fashion retailer, Gap Inc., has reported financial results for the third quarter of the year, according to a preliminary estimate of $3.8bn (3.2b). Reports have revealed net sales and operating margins in the three months to the end of this year. The company says revenue is rising. But The latest annual report of earnings has been released by the US company, the BBC has learned from reports of profits from the sale of Yeezy Gap in San Francisco, California, in which 15% of its sales fell 7% compared to last year - but it has seen higher growth in sales, retail and online sales of more than 5% of sales in its three-quarters, but remains on stronger footing than the previous quarter, as sales continued to fall, and the company is continuing to continue to work on its growing portfolio of brands. Financial results have shown significant improvements including lower commodity costs and increased sales for another quarter during the pandemic, despite an estimated 2 percentage point negative impact from its sale by Banana Republic and American rappers as well as selling clothes and clothing stores in US cities. But analysts are reporting further changes to its business following the decision to disclose the new acquisition of Gap China, US retail giant Gap has said it was going to be able to revive its portfolio, with sales falling 3%. Here is the full full report.

Source: prnewswire.com
Published on 2023-11-16

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