Gap’s Earnings Were Strong, but Guidance Fell Short

Gap barreled through earnings estimates, but missed slightly on sales and delivered weaker guidance than projected.

For the third quarter, Gap estimates that sales could decrease in the low double-digit range—starker than forecasts which call for a roughly 7% decline. “While we are encouraged by our near-term progress, we remain mindful of the mixed economic and consumer environment in which we are operating and continue to plan the business prudently,” said chief financial officer Katrina O’Connell.

This is Gap’s first quarter under new CEO Richard Dickson, who was tapped to lead the retailer this July after a yearlong search. He first joined Gap’s board in November 2022. Before helming Gap, Dickson was Mattel’s chief operating officer and president, where he helped lead the revival of the Barbie brand.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia Q2 Earnings Results: NVDA pops to $515 on significant beat on earnings, revenueNvidia (NVDA) stock popped nearly 10% late Wednesday after walloping second-quarter consensus by a wide margin. The leading semiconductor designer rep
Source: FXStreetNews - 🏆 14. / 72 Read more »

This stock could capitalize on a strong earnings report from NvidiaLoop Capital reiterated its buy rating and $400 price target on SMCI shares ahead of Nvidia's second-quarter earnings announcement.
Source: CNBC - 🏆 12. / 72 Read more »

Business Highlights: Nvidia posts strong quarterly earnings; the Fed faces tough call on ratesBusiness Highlights: A summary of the day’s top stories in the business world.
Source: AP - 🏆 728. / 51 Read more »