Near a 25-Year Low, Is Gap a Buy?
Once upon a time, Gap (NYSE: GPS) was a premium retailer, dictating fashion trends to its loyal customer base. The fairy tale has seemingly ended, and with the COVID-19 pandemic disrupting sales for many retailers and forcing the temporary closure of many stores, the stock is now near a 25-year low. That's a big loss for long-term shareholders of the company.
Can the share price recover and once again make this stock a buy?
Retail is in turmoil as COVID-19 continues to wend its way through global communities, and stores are mostly shuttered. Apparel-focused retailers have been particularly hard-hit, partly because consumers have switched to buying essentials. With record numbers of workers losing their jobs, money's being rerouted to focus on necessities. And even for the lucky ones who are still working, if it's from home, the need for new apparel is greatly reduced.
Source Fool.com
