Gap Shares Surge 15% on Strong Q1 Earnings and Sales Growth
Gap Inc. shares surged over 20% after the company reported better-than-expected earnings and revenue, driven by sales growth across all four of its brands: Gap, Banana Republic, Athleta, and Old Navy. CEO Richard Dickson's turnaround strategy is showing positive results, leading the company to raise its full-year guidance. The retailer's fiscal first-quarter net income reached $158 million, a significant improvement from a loss of $18 million in the same period last year.