Headlines

Gap Bolsters Outlook

Strong quarter, improved e-commerce lead to optimism

Published

11 years ago

August 26, 2013

steve kaufman

Gap Inc. (San Francisco) has raised its earnings outlook for the year after a strong second quarter.

Earlier this month, the company said same-store sales were up 5 percent for the quarter ended Aug. 3, 2013, with gains at its Gap and Old Navy stores offsetting a decline at Banana Republic. Earnings were up 25 percent.

Last October, the company instituted a management overhaul to help it respond more quickly to shifting tastes around the world. The change put the North American, international, online, outlet and franchise divisions under a single global executive for each of the company’s brands. The company also formed an innovation and digital strategy team.

Gap has launched e-commerce operations in over 80 countries and beefed up its U.S. presence through Piperlime and Athleta.

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