Gap Inc‘s share rose 15% on Friday, after the company reported a 3% decrease in comparable sales in September, on October 6, 2016. Total sales declined 2% to $1.43 billion. However, a fire at one of Gap’s distribution centers in late August disrupted operations. The company claims the fire destroyed 12 million units of mostly Gap-branded merchandise, which negatively affected comps for the company by 3%. While the figure seems quite large, if accepted at face value, it would have transformed...
Gap Inc‘s share rose 15% on Friday, after the company reported a 3% decrease in comparable sales in September, on October 6, 2016. Total sales declined 2% to $1.43 billion. However, a fire at one of Gap’s distribution centers in late August disrupted operations. The company claims the fire destroyed 12 million units of mostly Gap-branded merchandise, which negatively affected comps for the company by 3%. While the figure seems quite large, if accepted at face value, it would have transformed...
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