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Fashion Jobs
TJX CORPORATE
HR Business Partner, Distribution Center, American Drive Shift c
CDI · Mississauga
TJX CORPORATE
HR Business Partner, Distribution Center, Torbram Shift c
CDI · Brampton
WINNERS
ds Operations Training Manager
CDI · Mississauga
TJX CORPORATE
HR Business Partner, Distribution Center West dr Shift b
CDI · Brampton
TJX CORPORATE
HR Business Partner, Distribution Center Torbram Shift b
CDI · Brampton
TJX CORPORATE
HR Business Partner, Distribution Center American Drive Shift b
CDI · Mississauga
TJX CORPORATE
HR Business Partner, Distribution Center West dr Shift c
CDI · Brampton
NORDSTROM
Asset Protection - Agent - Sherway Gardens
CDI · Toronto
NORDSTROM CANADA RETAIL INC
Security Ambassador Yorkdale
CDI · Toronto
NORDSTROM CANADA RETAIL INC
Asset Protection Assistant Department Manager - Pacific Centre
CDI · Vancouver
NORDSTROM CANADA RETAIL INC
Security Ambassador 1
CDI · Langley
ESTÉE LAUDER
Marketing Manager, Estee Lauder Brand
CDI · Toronto
EDITIONS DE PARFUMS FREDERIC MALLE
Business Manager - 37.5 Hrs - Frederic Malle/Killian Paris - Montreal, qc
CDI · Montreal
L'OREAL GROUP
E-Commerce Specialist
CDI · Montreal
L'OREAL GROUP
Sales Representative
CDI · Vancouver
L'OREAL GROUP
Medical Sales Representative
CDI · Toronto
L'OREAL GROUP
Medical Sales Representative
CDI · Hamilton
L'OREAL GROUP
Medical Sales Representative
CDI · Calgary
L'OREAL GROUP
Sales Representative
CDI · Montreal
L'OREAL GROUP
Business Consultant
CDI · Edmonton
ZARA
Operations Manager, Oshawa
CDI · OSHAWA
ZARA
Visuel Commercial (Place Ste-Foy)
CDI · QUÉBEC
By
Reuters
Published
Mar 4, 2021
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Gap projects return to growth with Old Navy and Athleta's help

By
Reuters
Published
Mar 4, 2021

​Apparel retailer Gap Inc on Thursday forecast a return to sales growth this year, as it expects the roll-out of vaccines to drive traffic at its Old Navy and Athleta stores.


Gap Inc


The San Francisco-based company’s shares rose about 2% after the closing bell as fourth-quarter profit beat Wall Street expectations.

Demand for Gap jeans and Banana Republic’s floral shirts have declined due to coronavirus-led restrictions, but affordable clothing at Old Navy and comfortable womenswear at Athleta have became stay-at-home favorites.

At Old Navy, sales rose 5% in the fourth quarter and at Athleta, they surged 29%.

The company now plans to open 30 to 40 Old Navy stores and 20 to 30 Athleta stores and close about 100 Gap and Banana Republic stores globally in fiscal 2021.

As online sales surge, Gap spent $140 million to beef up its network of distribution centers.

The company expects the first half of 2021 to continue to be impacted by the pandemic and to return to a more normalized, pre-pandemic sales level in the back half of the year.

Fiscal year 2021 net sales is expected to reflect mid- to high-teens growth, and Gap forecast earnings to be in the range of $1.20 per share to $1.35 per share.

On a per share basis, Gap earned 28 cents per share, 10 cents more than expectations, according to IBES data from Refinitiv.

However, net sales fell about 5% to $4.42 billion in the fourth quarter, missing estimates of $4.66 billion, hurt by weakness at its namesake brand and Banana Republic.

© Thomson Reuters 2021 All rights reserved.