Will Gap Stock Get Crushed by a Recession?
Once one of the top U.S. retailers, Gap (NYSE: GPS) has been struggling over the past few years as styles have changed and malls have suffered from less traffic. While Gap has launched a successful digital program to combat slowing store sales, its business hadn't fully regrouped before the pandemic hit.
Sales plunged 43% during the first quarter and Gap seemed in danger of following clothing retailers such as Brooks Brothers, J.C. Penney, and Lord and Taylor in filing for bankruptcy. So where's the company now?
Image source: Gap.
Source Fool.com
