logo
Plus   Neg
Share
Email

Stock Alert: Gap Rises 5%

Shares of The Gap, Inc. (GPS) are climbing more than 5% Monday morning, continuing with the last week's momentum. The stock is currently trading at $12.99, nearly 30% up in the last 5 trading sessions. It has traded in the range of $5.26- $19.86 in the last 52 weeks.

On June 4, when the apparel brand announced first-quarter results, online sales had increased 13% year-over-year, with over 100% year-over-year online sales growth in the month of May.

Beginning May first week, the company has started to reopen its closed stores and expects to majority of them in June.

"While we are pleased that store traffic and productivity is exceeding expectations, particularly at Old Navy and Athleta, we continue to plan conservatively as significant uncertainty remains ahead," said Katrina O'Connell, EVP and CFO Gap Inc, while reporting firs-quarter results.

For comments and feedback contact: editorial@rttnews.com

Business News

Invest in the Best Pharma Stocks by Subscribing to RTT Biotech Investor.
Editors Pick
European Medicines Agency or EMA announced that Comirnaty, the COVID-19 vaccine developed by Pfizer and BioNTech, can have more flexible storage conditions, including up to one month in a normal fridge. The proposed change in the approved storage conditions, recommended by EMA's human medicines committee or CHMP, will help in easy handling of the vaccine in vaccination centres across the EU. Kraft Heinz Foods Co. is recalling around 13,504 pounds of a frozen foodservice soup product citing misbranding and undeclared allergens, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The frozen soup product contains milk and eggs, known allergens, which are not declared on the product label. Walmart has dropped the requirement of masks for customers and members who are fully vaccinated against COVID-19 while they are at the store. This is based on the latest guidance issued by the Centers for Disease Control and Prevention late last week. The retail giant also announced a cash bonus for all fully vaccinated associates.
Follow RTT