in extended trading after the company reported fourth-quarter earnings that exceeded analysts' expectations. Gap reported earnings of 58 cents per share adjusted on revenue of $4.67 billion, while analysts polled by Refinitiv expected earnings of 41 cents per share on revenue of $4.55 billion. The company also made a leadership change, naming Old Navy CFO Katrina O'Connell as the new CFO of Gap.
The company said that it is facing uncertainty regarding the coronavirus' impact on its supply chain and consumer demand, and chose to suspend share repurchases in fiscal 2020.
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