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Gap Beats Wall Street Expectations Thanks to Holiday-Season Sales
· 2d
Gap beats quarterly sales, profit estimates on strong holiday quarter
Gap Stock Jumps 15% on Earnings Beat and Strong Guidance
Gap stock was surging after the apparel retailer barreled through earnings expectations and delivered stronger-than-expected profit guidance. Gap stock jumped 15% to $22.41 in premarket trading Friday.
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Gap has been in the midst of a turnaround under CEO Richard Dickson and has blown away Wall Street expectations for four quarters in a row.
Gap’s holiday-quarter profit is head and shoulders above Wall Street expectations and retailer speaks of a “reinvigoration” of its brands.
Analysts expect the Palo Alto, California-based company to report quarterly earnings at 38 cents per share, down from 49 cents per share in the year-ago period. Gap projects quarterly revenue of $4.07 billion, compared to $4.3 billion a year earlier, according to data from Benzinga Pro.
The stock of The Gap (GAP) is up 15% after the clothing retailer announced strong financial results and provided bullish forward guidance that
The downfall of economically thriving Black communities stands as a stark reminder of the consequences of systemic racism.
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Wall Street’s sell-off kicked back into gear after tariff whiplash and falling AI stocks dragged the market lower.
Stock futures are slightly higher Friday morning ahead of the release of closely watched employment data, as the market looks to cap off a volatile week on a high note.
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