Why Isn't Anyone Talking About Gap's Monster Quarter?
The U.S. economy has continued to see encouraging signs of recovery over the past few months as vaccines have been rolled out and more of the populace has begun to return from pandemic-induced self-isolation. Many retailers that were devastated by store closures are seeing strengthening sales, and some are even surpassing their pre-pandemic sales levels.
Gap (NYSE: GPS), one of the largest U.S. apparel companies, had some serious sales drops in 2020 and was in danger of needing to file for Chapter 11 bankruptcy protection. But the retail group (it also owns and operates the Old Navy, Banana Republic, Athleta, and Intermix brands) been making incremental progress over the past few quarters and posted a standout first-quarter earnings report in late May.
Image source: Gap.
Source Fool.com
