Gap Inc. Q4 net sales increase 1% to $4.3B, surpassing expectations, with Old Navy sales up 6%; Gap and Banana Republic sales down 5%.
Gap Inc. reported a 1% increase in Q4 net sales to $4.3 billion, with earnings per share (EPS) of $0.49, surpassing expectations. Old Navy sales grew 6%, while Gap and Banana Republic sales declined 5% each. Gap expects flat net sales for fiscal 2024, with gross margin expansion and low-to-mid teens growth in operating income. The company's strong cash balance of $1.9 billion demonstrates financial health.
March 07, 2024
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