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Gap Inc. reported better-than-expected Q3 results, but issued downbeat guidance for its holiday quarter due to a slowdown at Athleta and Banana Republic.
The apparel retailer just crushed quarterly earnings estimates.
Gap Inc. on Thursday reported third-quarter results that showed the retailer’s continued struggle to lift overall sales across its portfolio of brands. But signs of a turnaround its Old Navy division offered at least something to cheer about.
In fiscal Q3, the casual-apparel retailer's profit sped by Wall Street's expectations, as comparable sales at the Gap and Old Navy brands held steady, while Banana Republic and Athleta struggled.
GPS earnings call for the period ending September 30, 2023.