Gap Stock Soars as Retailer’s Turnaround Plan Bears Fruit | Global News Avenue

Gap Inc.gap) Stocks rose nearly 15% on Friday the day after the apparel retailer posted a better-than-expected profit and sales than expected during the critical holiday period. Turnover Plan Continue to produce positive results.

The companies behind GAP, Old Navy, Banana Republic and Athleta Brands report the fourth quarter Earnings per share (EPS) $0.54, while the visible Alpha consensus is $0.36. Revenue fell 3.5% year-on-year to $4.15 billion, but also surpassed forecasts.

Comparable store sales Increased by 3%, well above the visible alpha expectation of 0.68%. CEO Richard Dickson noted that the gap could test positive for sales in all four quarters of 2024 and “had one of the highest sales” Gross profit margin Over the past 20 years. ”

Dixon said in an interview Yahoo! finance The results show that “our brand is resonating with consumers.” He explained that he wasn’t overly concerned about the new Trump administration tariffs, saying: “Whether the input and tariffs and everything else, there are always winners and losers. Our market share performance shows that we are doing the right thing.”

GAP expects full-year sales to grow by 1% to 2% from $15.09 billion in 2024.

GAP shares have been largely flat on Friday’s meeting over the past 12 months, until recently soaring 14% in trading.