×
2 306
Fashion Jobs
AUTUMNPAPER LIMITED
Alexander Mcqueen CRM Campaign Manager
Permanent · LONDON
BOOHOOMAN
CRM Assistant
Permanent · MANCHESTER
JOHN LEWIS
Loss Prevention Partner
Permanent · BRISTOL
JOHN LEWIS
Loss Prevention Partner
Permanent · EXETER
JOHN LEWIS
Loss Prevention Partner
Permanent ·
LRM GOODS
Marketing Manager
Permanent · GUILDFORD
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Clinique - Consultant - John Lewis, Cambridge - 21 Hours - Part Time - Permanent
Permanent · Cambridge
ESTEE LAUDER
Clinique - Consultant - Boots, Horsham - 13 Hours - Part Time, Permanent
Permanent · Horsham
ESTEE LAUDER
Clinique - Consultant - Boots, Crawley - 13 Hours - Part Time, Permanent
Permanent · Crawley
ESTEE LAUDER
Clinique - Consultant - Boots, Oxford Street - 22.5 Hours - Part Time, Permanent
Permanent · London
ESTEE LAUDER
Clinique - Consultant - Boots-Hampton, Peterborough - 11 Hours - Part Time, Permanent
Permanent · Peterborough
ESTEE LAUDER
Clinique - Consultant - Heathrow, Terminal 4 - 18 Hours / 3 Days - Part-Time, Permanent
Permanent · Longford
ESTEE LAUDER
Clinique - Consultant - Boots, Ballymena - 9.5 Hours / Week - Part Time, Permanent
Permanent · Ballymena
ESTEE LAUDER
Mac Cosmetics -Media And Advertising Manager
Permanent · London
ESTEE LAUDER
Clinique - Consultant - Boots, Oxford - 24 Hours - Part Time, Permanent
Permanent · Oxford
ESTEE LAUDER
Clinique - Consultant - Marks & Spencer – Manchester, Handforth - 15 Hours / 3 Days, Part-Time, Permanent
Permanent · Manchester
ESTEE LAUDER
Clinique - Consultant - Marks & Spencer – Lisburn - 15 Hours / 3 Days, Part-Time, Permanent
Permanent · Lisburn
ESTEE LAUDER
Clinique - Consultant - John Lewis, Oxford Street - 37.5 Hours - Full Time, Permanent
Permanent · London
ESTEE LAUDER
Clinique - Consultant - Boots - Fosse Park, Leicester - 28 Hours / Week - Part Time, Permanent
Permanent · Leicester
ESTEE LAUDER
Clinique - Consultant - Boots, Aylesbury - 30 Hours - Full-Time, Permanent
Permanent · Aylesbury
Ads
By
Reuters
Published
Nov 18, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gap to shut more stores than first forecast

By
Reuters
Published
Nov 18, 2016

Apparel chain Gap Inc said it would shut more stores than forecast previously and that it expected a further drop in traffic during the crucial holiday shopping season.

The company's shares fell 4.9 percent to $29.21 after the bell on Thursday.


Gap said it now expected to shut about 65 company-operated stores this year, compared with its previous forecast of about 50 stores - DR


"Given that challenging traffic trends have continued, we are investing meaningfully in marketing across our portfolio brands during the holiday season," outgoing Chief Financial Officer Sabrina Simmons said on an earnings call.

Gap said it now expected to shut about 65 company-operated stores this year, compared with its previous forecast of about 50 stores.

Traditional apparel chains are struggling with the growing popularity of online retailers and fast-fashion chains such as H&M, Forever 21 and Inditex's Zara, which are known for offering trendier clothes at cheaper prices.

Gap reaffirmed its adjusted profit forecast of $1.87 to $1.92 per share for the full year. Analysts on average were expecting $2.02, according to Thomson Reuters I/B/E/S.

The company reported its seventh straight quarterly sales decline in the three months ended Oct. 29 as demand for its Gap and Banana Republic brands remained sluggish.

Gap has been trying to replicate the success of its low-end Old Navy brand at its Gap and Banana Republic chains since Art Peck took over as chief executive last year.

The company's net income fell to $204 million, or 51 cents per share, in the third quarter ended Oct. 29 from $248 million, or 61 cents per share, a year earlier.

Excluding restructuring costs, the company earned 60 cents per share, in line with analysts' estimates.

The company said same-store sales fell 3 percent in the quarter, in line with analysts' estimate, according to Consensus Metrix.

Net sales fell to $3.80 billion from $3.86 billion.

Up to Thursday's close, the San Francisco-based company's stock has risen 24.3 percent this year.


 

© Thomson Reuters 2022 All rights reserved.