Gap Reports Another Period of Declining Sales Across All Brands, Warns of ‘Uncertain Consumer’
August 28, 2023
Gap, the retail company, has reported declining sales across all of its brands for another quarter and issued a disappointing guidance for the current quarter. The company, which is projecting a net sales decrease in the low double-digit range for the fiscal third quarter, is struggling with an “uncertain consumer” and challenging economic conditions. Despite its efforts at rebranding and transformation, Gap’s sales have been consistently under pressure as it faces stiff competition and changes in consumer behavior.
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