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Several current and former employees have said Gap Inc. had been weighing its options for the Gap label for some time, including closing or selling it.
Clothing retailer Gap has reported a loss close to $1bn due to store closures because of the coronavirus pandemic.
The company was $932m (£740m) in the red for the three months to May, compared with a profit of $227m in the same period last year.
It comes as Gap wrote off the value of the goods it holds by more than a quarter of a billion dollars.
Friday 5 June 2020 - Gap Inc has revealed a $1.2bn operating loss in Q1 of its 2020 financial year, due to the impact of the pandemic.
Possible Buy For Boohoo?
So are you drawing a conclusion or leaving us in suspense
About 3.9 million Boohoo shares changed hands today which is bu**er all in Boohoo shares.
I thought it went down when somebody posts a "negative" or "de-ramping" comment so people sell and then we can buy their shares cheap?
No doubt Boohoo Group have a number of brands on their radar list. They are excellent at buying brands cheap, integrating them and making them profitable in short periods of time. Yet another one of their great strengths.
For me, the Boohoo share price has dropped back like it does until it gets over the 390p and holds - this is normal for the Boohoo share price to take a while to get past a price and hold. It goes up past the price, drops back a bit, does that a number of times until it gets up past the price and then holds and then the same will happen getting to 400p and holding.
The beauty about Boohoo Group is that it has a different management and design team running each brand - Boohoo, BoohooMan, Prettylittlething, Nasty Gal, MissPap, Karen Millen and Coast. So it's easy for them to integrate more and more brands.
In case you don't know Inditex. Inditex is a Spanish multinational clothing company headquartered in Arteixo (A Coruña) in Galicia.
Inditex, the biggest fashion group in the world, operates over 7,200 stores in 93 markets worldwide. The company's flagship store is Zara, but it also owns the chains Zara Home, Massimo Dutti, Bershka, Oysho, Pull and Bear, Stradivarius and Uterqüe. The majority of its stores are corporate-owned, while franchises are mainly conceded in countries where corporate properties cannot be foreign-owned.
Gap as of today is worth 4.45billion, come on now I think your getting a bit carried away.
Gap was already a troubled retailer before the COVID-19 pandemic struck, and after nearly two months of store closures, it is even more so.
The Gap, Inc., commonly known as Gap Inc. or Gap, (stylized as GAP) is an American worldwide clothing and accessories retailer.
Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates six primary divisions: Gap (the namesake banner), Banana Republic, Old Navy, Intermix, Hill City, and Athleta. Gap Inc. is the largest specialty retailer in the United States, and is 3rd in total international locations, behind Inditex Group and H&M.
I read recently that GAP may be having problems so could be a possible for Boohoo to buy.