Does Gap's Online Sales Surge Make It a Buy?
Prior to the coronavirus outbreak, Gap (NYSE: GPS) was at the start of a new chapter. The struggling mall retailer had just named Sonia Syngal, who had worked wonders at the helm of its Old Navy business, as chief executive officer of the whole company.
Then came the recent health crisis. We could have expected a disaster for Gap, but the situation hasn't been as bad as we might have imagined. Just recently, Gap reported a surge in online sales in the second quarter.
Almost all stores were temporarily closed at the start of the period. But do gains in online sales mean now is the time to bet on recovery at Gap? Let's take a closer look.
Source Fool.com
