Gap Crushes Q2 Estimates
Has the retail sector really been crippled by the coronavirus outbreak? Judging by the far-better-than-expected Q2 results from clothing-store operator Gap (NYSE: GPS), which were released after market hours on Thursday, the answer might be "no."
For the quarter, the company booked net sales of just under $3.28 billion, down 18% on a year-over-year basis. Rather counterintuitively, comparable sales were up by 13%. Gap said this was due to the growth of its eCommerce business.
Image source: Gap.
Source Fool.com
