Gap Inc

Shoppers walk into a Nordstrom department store on March 03, 2023 in Austin, Texas. Brandon Bell | Getty ImagesNordstrom's fiscal first-quarter sales topped Wall Street's expectations on Wednesday, even as the retailer reported a spending drop and predicted slower sales in the coming months.The higher-end department store also reiterated its outlook for the full year. Nordstrom expects revenue to fall 4% to 6% and adjusted earnings per share to range between $1.80 and $2.20 for the fiscal year, excluding the impact of…

The Gap logo is displayed at a Gap store on April 25, 2023 in Los Angeles, California.Mario Tama | Getty ImagesGap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it's making progress – and has managed to significantly improve its margins.Here's how the apparel retailer did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:Earnings per share: 1 cent, adjusted, vs. a loss of 16 cents,…

A Target department store in North Miami Beach, Florida, May 17, 2023.Joe Raedle | Getty ImagesMore grocery purchases, fewer ambitious do-it-yourself projects and last-minute splurges at the store.This week, some of the biggest retailers in the country reported earnings and described how their customers are shopping. As Home Depot, Target and Walmart reported their quarterly sales and shared full-year outlooks, the companies offered up the latest clues about the health of the American consumer and previewed what could be…

A sign hangs above the entrance of a Foot Locker store on August 02, 2021 in Chicago, Illinois.Scott Olson | Getty ImagesFoot Locker's stock plummeted nearly 28% Friday after a worse than expected consumer slowdown led to a double-digit sales drop, prompting the company to slash its outlook just two months after introducing it. Following a string of better than expected earnings from major retailers like Target, TJ Maxx and Walmart this week, Foot Locker's poor report could signal trouble ahead for other names in the…

Shoppers are at the Citadel Outlets in Los Angeles.Jonathan Alcorn | ReutersAffordability is the number one concern for consumers globally, new data released Tuesday by EY shows.The price worries could suggest trouble for retailers that are relying on promotions to win over cost-conscious customers. Those companies could see their margins under pressure when they report earnings over the coming weeks. In a consumer sentiment survey of 21,000 shoppers across 27 countries, 35% of respondents said "affordability" is now…

Under Armour's shares sank Tuesday, even after the athletic apparel and footwear retailer beat Wall Street's quarterly revenue and earnings expectations.The reason for the drop may offer insights into challenges faced by other retailers.The company drove higher sales, in part, by offering lower prices. Under Armour missed fiscal fourth-quarter expectations on gross margin as it leaned more on promotions than expected.Shares fell more than 6% in afternoon trading.The company's finance chief David Bergman chalked up the…

Gap will lay off about 1,800 employees, more than three times as many as the 500 layoffs it announced in September, as part of a broad effort to cut costs and streamline operations, the company said Thursday. The layoffs will affect roles at Gap's headquarters locations along with upper field positions, or workers such as regional store leaders who hold leadership titles outside of a headquarters office, the company said. CNBC reported Tuesday that the company would lay off more than 500 employees.related investing…

A clearance sale sign is seen at the Gap retail store on September 20, 2022 in Los Angeles, California.Allison Dinner | Getty ImagesGap is laying off more than 500 employees in an attempt to cut costs and become more efficient, as the company tries to move back to profitability, CNBC has learned. The exact number of layoffs is unclear, but the head count reduction will be larger than the 500 or so cuts to corporate positions the company announced in September, a person familiar with the matter said Tuesday. "Our goal is…

Gap reported disappointing holiday-quarter results Thursday and announced a series of executive changes as the struggling retailer continues to search for a permanent CEO.Shares of the company fell in off-hours trading.Here's how the company did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:Loss per share: 75 cents, vs. 46 cents expectedRevenue: $4.24 billion vs. $4.36 billion expectedThe company reported net losses of $273 million, or 75 cents a…

Shoppers walk past a Bloomingdale's store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022.Victor J. Blue | Bloomberg | Getty ImagesAfter benefitting from a pandemic-era shopping spree, retailers are preparing for a reality check.Walmart and Home Depot will kick off retail earnings season Tuesday by sharing holiday-quarter results. Other big-name retailers will follow, including big-box players like Target and Best Buy, and mall staples like Macy's and Gap.The companies' reports will come as recession…