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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Gap Inc | NYSE:GPS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.08 | -0.33% | 24.37 | 867 | 09:47:56 |
From Jun 2019 to Jun 2024
Gap Inc. (GPS) unveiled a plan to expand business to gain market share, saying it will invest more in online and international operations, including returning to television after a two-year absence.
The casual-clothing retailer, which is working through a turnaround, posted tepid second-quarter results as sales fell in all four of its segments. It has focused on maintaining leaner inventory and traffic-driving promotions.
Thursday, the company said it plans to open its first namesake store in China next year, expand its international outlet stores and launch U.K. and Canadian online stores.
A new store design for its long-struggling Old Navy chain will be in about 50 stores by the end of this year, the company said. The chain has seen sharp sales gains in recent months.
Gap has seen some signs for optimism lately. In September, it posted a 1% drop in same-store sales, representing a slowing in its rate of decline.
Gap shares were up about 0.1% premarket at $23. The stock through Wednesday was up 72% so far this year.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com
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