Gap Inc

Check out the companies making headlines before the bell:PepsiCo (PEP) – The beverage and snack giant reported an adjusted quarterly profit of $1.86 per share, 12 cents above estimates, and revenue topped Wall Street forecasts. The company also raised its full-year forecast as consumer demand holds up even as prices rise. PepsiCo gained 1.2% in the premarket.Gap (GPS) – The apparel retailer's stock slumped 6.3% in the premarket after CEO Sonia Syngal stepped down after two years on the job. She'll be replaced on an…

A Gap store in New York, August 2, 2020.Scott Mlyn | CNBCCheck out the companies making headlines in midday trading.Gap — Shares of the apparel retailer dropped more than 5% after Gap announced Monday that CEO Sonia Syngal is stepping down from her position. Wells Fargo downgraded the stock to equal weight from buy following the move, saying the firm can no longer recommend a stock that is dealing with so many challenges within its own company — especially as investors deal with a difficult economic backdrop.Boeing — The…

Sonia Syngal, president and chief executive officer of Old Navy Inc., speaks during the Fortune's Most Powerful Women Summit in Washington, D.C., on Tuesday, Oct. 22, 2019.Sarah Silbiger | Bloomberg | Getty ImagesGap CEO Sonia Syngal is stepping down, effective immediately, the company announced on Monday, as the apparel retailer battles supply chain challenges and slumping sales.Syngal will stay at the company during a brief transition period, and Bob Martin, the company's current executive chairman of the board, will…

Walmart Rollback pricing signs are displayed while customers shop during the grand opening of a new Wal-Mart Stores location in Torrance, California.Patrick Fallon | Bloomberg | Getty ImagesWalmart won't be doing its own event to rival Amazon Prime Day this year, according to a company spokesperson.The big-box giant, like other retailers, has typically thrown its own overlapping sales event. Yet this year, much of its merchandise is already on sale.Bright yellow "Clearance" signs have become a fixture in many stores in…

Pedestrians view the holiday windows at a store in New York, on Thursday, Dec. 2, 2021.Christopher Occhicone | Bloomberg | Getty ImagesSummer vacation season is just getting started, but retailers are already gearing up for the holidays.In coming weeks, companies will get early clues about how the all-important holiday shopping season will shape up as Amazon hosts its Prime Day on July 12 and 13 and rival retailers including Target hold competing sales. That will be followed by the busy back-to-school shopping period,…

Revlon makeup products are displayed at a CVS store on August 9, 2018 in Sausalito, California.Justin Sullivan | Getty ImagesThe retail industry is up against a potential wave of bankruptcies following a monthslong slowdown in restructuring activity.There could be an increase in distressed retailers beginning later this year, experts say, as ballooning prices dent demand for certain goods, stores contend with bloated inventory levels and a potential recession looms.Last week, 90-year-old cosmetics giant Revlon filed for…

Scoop is one of Walmart's exclusive fashion brands. It has also struck deals with national brands like BCBG Paris.Melissa Repko | CNBCSPRINGDALE, Arkansas — Dressed-up mannequins. Eye-catching displays of sleek furniture and colorful swimsuits. And store signs that promote exclusive brands and nationally recognized ones.Walmart's redesigned SuperCenter, located just 16 miles from its Northwest Arkansas headquarters, reflects the retailer's ambitions to get more customers to turn to its stores and website to fill their…

David Simon, chairman and chief executive officer of Simon Property GroupPatrick T. Fallon | Bloomberg | Getty ImagesDavid Simon, the chief executive officer of the biggest shopping mall owner in the country, wants to create a new type of annual shopping extravaganza as consumers are increasingly feeling the pinch of inflation just about everywhere they go.Think Amazon Prime Day, but for retail outlet centers.This event, dubbed "National Outlet Shopping Day" by Simon Property Group, is meant for people seeking out deep…

After Target (TGT) lowered its margin guidance for the second quarter, here's where the CNBC Investing Club would look in the retail sector. After Target (TGT) lowered its margin guidance for the second quarter, here's where the CNBC Investing Club would look in the retail sector. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks…

Shoppers walk in front of a Target store at the Lycoming Crossing shopping plaza in Muncy, Pennsylvania.Sopa Images | Lightrocket | Getty ImagesTarget warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory.The retailer slashed its profit margin expectations for the fiscal second quarter to account for a wave of goods winding up deeply discounted or on the clearance rack. Shares fell more than 6% in…