Gap Suffers Loss in Q2 2020 But Prepares for Late Year Resurgence

With all eyes on Gap's forthcoming Kanye West collaboration, one could assume that the company is navigating the coronavirus pandemic better than most competitors. Indeed, Gap Inc. has an optimistic outlook for 2020, despite an expected early year loss in the year's second quarter.Sales declined 18 percent, down to $3.27 billion USD for the quarter, which ended August 1. This is down from $4 billion USD in Q2 2019, which also saw a profit of $168 million USD. In Q2 2020, however, Gap had a net l...