Gap raises annual sales target betting on steady holiday demand

Reuters - 21/11
Gap Inc raised its annual sales forecast on Thursday and said the holiday season was off to a "strong start", sending its shares up nearly 14% in extended trade.
Nov 21 (Reuters) - Gap Inc (GAP.N), opens new tab raised its annual sales forecast on Thursday and said the holiday season was off to a "strong start", sending its shares up nearly 14% in extended trade.
Gap's reported sales grew for a fourth consecutive quarter, and the company also topped profit expectations as it executes a turnaround under CEO Richard Dickson, who took on the role in August 2023.
With shoppers budgeting to purchase trendy styles, Gap's strategy of paring back discounts and stocking fresher, popular items in its stores has helped the company appeal to a broader customer base.
Gap now expects full-year net sales to rise between 1.5% and 2%, compared with its earlier target of marginal growth.
Dickson has emphasized returning to the company's roots as a "pop culture brand," creating ma...
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