Gap: annual targets raised

(CercleFinance.com) - On the occasion of its quarterly publication, which it considers to be solid, Gap announced on Thursday evening that it was raising its targets for the current financial year, now aiming for growth in operating profit "in the mid-40% range".


Similarly, the San Francisco-based clothing chain is now counting on an improvement of at least 150 basis points in its gross margin for 2024, as well as slightly higher sales on a 52-week basis.

For its first accounting quarter, Gap posted EPS of $0.41 and an operating profit of $205 million, representing a margin of 6.1% on sales of $3.4 billion, up 3% on both a reported and comparable basis.

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