Why Shares of Gap Inc. Jumped Today
Shares of Gap Inc. (NYSE: GPS) surged on Wednesday after the apparel retailer updated its long-term strategy. The plan includes a stronger focus on two of its brands, increased investments in e-commerce, shifting away from lower-productivity locations, and major cost savings thanks to increased efficiency. The stock was up about 5.7% at noon.
Gap plans to focus on growing its Old Navy and Athleta brands, both of which are performing better than its Gap and Banana Republic brands. The company expects Old Navy, a value orientated brand, to reach $10 billion of annual sales in the next few years. Athleta, an athleisure brand, is expected to cross the $1 billion annual sales mark in the same time frame.
Image source: Gap Inc.
Source: Fool.com
Gap Inc. Aktie
19,88 €
-7,87 %
Positive Tendenz bei Gap Inc. mit mehreren Buy-Einschätzungen als Sell-Einschätzungen.
Das Community-Kursziel von 23 € für Gap Inc. deutet auf ein leicht positives Wachstumspotenzial gegenüber 19.88 € hin.
