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Fashion Jobs
BOOHOO GROUP
Procurement Manager (Marketing)
Permanent · MANCHESTER
SUPERDRY
Retail Marketing Executive
Permanent · CHELTENHAM
ABERCROMBIE AND FITCH CO.
Wholesale, Associate Account Executive, Emea
Permanent · London
COTY
Commercial Trade Marketing Manager Beauty
Permanent · London
L'OREAL GROUP
Product Manager - Viktor & Rolf
Permanent · London
L'OREAL GROUP
Prada Business Manager, 1.0, Harrods London
Permanent · London
L'OREAL GROUP
Senior Advocacy Manager - IT Cosmetics - Ftc (Maternity Cover)
Permanent · London
L'OREAL GROUP
Brand Engagement Manager - Ysl - Luxe (Maternity Cover)
Permanent · London
SELFRIDGES
Fragrance Consultant - 37.5 Hours (Trafford)
Permanent · MANCHESTER
VF INTERNATIONAL
Warehouse Team Leader
Permanent · COALVILLE
VANS
Account Coordinator - French Speaking - Vans - Fixed Term
Permanent · NOTTINGHAM
VF INTERNATIONAL
Warehouse Inventory Manager
Permanent · COALVILLE
AESOP
Retail Consultant | Aesop Borough, London | Full Time
Permanent · London
HOMESENSE
Homesense Bolton Middlebrook Loss Prevention Security Officer Part Time 20 Hours
Permanent · Bolton
TK MAXX
Loss Prevention Officer-Full Time-Secondment-tk Maxx Brighton
Permanent · Brighton and Hove
TK MAXX
Loss Prevention Officer-Full Time-tk Maxx Portsmouth Ocean
Permanent · Portsmouth
TK MAXX
Loss Prevention Officer- tk Maxx Greenwich- Full Time
Permanent · London
TK MAXX
Full-Time Loss Prevention Officer-Waltham Abbey
Permanent · London
TK MAXX
Part-Time Loss Prevention Officer-Enfield
Permanent · Enfield
TK MAXX
Loss Prevention Advisor-Full Time-tk Maxx Worthing
Permanent · Worthing
ON RUNNING
Regional Sales Representative
Permanent · LONDON
ON RUNNING
Regional Sales Representative
Permanent · LONDON
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By
Reuters
Published
Jun 5, 2020
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Gap reports huge first-quarter loss on coronavirus-led store closures

By
Reuters
Published
Jun 5, 2020

Gap Inc on Thursday reported a whopping first-quarter loss of $932 million as the apparel retailer wrote down the value of some assets due to coronavirus-driven store closures, sending its shares down about 5% after the bell.


Instagram: @gap


Retailers that sell non-essential goods, especially clothing, have been crushed by restrictions imposed to contain the pandemic as they were forced to restrict their businesses to online operations and curbside pickups.

San Francisco-based Gap, which operates nearly 2,800 stores in North America, said 55% company-operated stores in North American were now open.

Chief Executive Officer Sonia Syngal said sales continued to reflect “material declines in May as a result of closures” but added that online sales were improving.

Net loss came in at $932 million, or $2.51 per share, for the three months ended May 2, compared with a profit of $227 million, or 60 cents per share, a year earlier.

The loss also included a $484 million writedown on store and operating lease assets and an inventory impairment charge of $235 million.

Net sales fell 43% to $2.11 billion from $3.71 billion.

Analysts had forecast a loss of 67 cents per share and revenue of $2.30 billion, according to IBES data from Refinitiv.

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