Gap Inc.’s losing streak has come to an end, at least for now.
shopping season. Gap Inc. said it is now expecting fourth-quarter total company net sales to be down as much as midsingle digits year-over-year.
“While our third-quarter results underscore the initial progress we are making toward rebalancing our assortments and reducing inventories, we continue to take a prudent approach in light of the uncertain consumer and increasingly promotional environment as we look to the remainder of fiscal 2022,” Katrina O’Connell, executive vice president and chief financial officer of Gap Inc., said in a statement.
Gap Inc. has been in flux over the last year as the specialty retailer continues to experience losses. In July, Gap’s , leaving the company without a permanent captain. Executives on Thursday evening’s conference call said the company is still looking for a permanent CEO.
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