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Gap Crushes Q2 Estimates

TheMotleyFool

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Has the retail sector really been crippled by the coronavirus outbreak? Judging by the far-better-than-expected Q2 results from clothing-store operator Gap (NYSE: GPS), which were released after market hours on Thursday, the answer might be "no."

For the quarter, the company booked net sales of just under $3.28 billion, down 18% on a year-over-year basis. Rather counterintuitively, comparable sales were up by 13%. Gap said this was due to the growth of its eCommerce business.

Image source: Gap.

Source Fool.com

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