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Gap revenues drop 2 percent for Q1

Business

Gap revenues drop 2 percent for Q1

by FashionUnited
30 May 2019

Gap reported its net profit for Q1 grew on Thursday. Revenues dropped by 2 percent from the same period last year.

The company's net profit for Q1 was 227 million dollars, climbed from 164 million dollars a year earlier. SEN4: Revenues increased to 3,706 million dollars.

The Gap (NYSE: GPS) is an American clothing and accessories retailer. It was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company also owns Banana Republic, Old Navy, Intermix and Athleta. Gap Inc. is the largest specialty retailer in the United States and with 3,723 stores worldwide it is 3rd in total international locations, behind Inditex Group and H&M.