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☆ JPMorgan upgrades Gap, sees retailer's shares rising more than 20% from here
▼ + stars: | 2024-12-02 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

A number of key catalysts could drive more growth at Gap in the coming months, according to JPMorgan. GAP YTD mountain GAP, year-to-date Looking ahead, analyst Matthew Boss said the company is at an "inflection point" that could see its sales growing in the low- to mid-single digits. The company selected Mattel executive Richard Dickson to be CEO last July and JPMorgan recently met with Dickson and CFO Katrina O'Connell. Among the 20 analysts covering it, 11 have a hold rating, while eight have a strong buy or buy rating. Its average target of $27.99 still reflects some more gains, however, implying more than 15% upside ahead, as of Friday's close.

Persons: Matthew Boss, Richard Dickson, Dickson, Katrina O'Connell, Said, Dickson's, Boss Organizations: JPMorgan, GAP, Mattel

☆ Gap shares pop 20% as earnings beat on sales growth at all four brands
▼ + stars: | 2024-05-30 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The retailer behind Gap, Banana Republic, Athleta and Old Navy blew past earnings estimates and beat on revenue, too. Here's how Gap did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:Earnings per share: 41 cents vs. 14 cents expected41 cents vs. 14 cents expected Revenue: $3.39 billion vs. $3.29 billion expectedGap shares spiked more than 20% in extended trading Thursday. Comparable sales were up 1%, well ahead of estimates of down 1.9%. Comparable sales were up 5% after being down a staggering 13% in the year-ago period. Analysts didn't have expectations for Athleta's comparable sales.

Persons: Richard Dickson's, Richard Dickson, Dickson, Da'Vine Joy Randolph, Zac Posen, Anne Hathaway, Here's Organizations: Navy, LSEG, CNBC, Banana Republic Locations: New York, Banana Republic, Manhattan, Posen

☆ Gap shares pop as company's holiday earnings blow past estimates, Old Navy returns to growth
▼ + stars: | 2024-03-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

In this article GPS Follow your favorite stocks CREATE FREE ACCOUNTA general view of an Old Navy store. Sales at Old Navy grew 6% to $2.29 billion, and Gap's overall gross margin surged 5.3 percentage points to 38.9% thanks to fewer markdowns and lower input costs. The extra week contributed about four percentage points of growth during the fiscal fourth quarter, the company said. Last month, Gap announced it had tapped fashion designer Zac Posen to be its creative director and Old Navy's chief creative officer. "His role as chief creative officer at Old Navy is really to harmonize, orchestrate and dial up the storytelling across product and marketing."

Persons: Richard Dickson, We're, Dickson, It's, he's, Zac Posen, isn't, He'll, they've, Eric Chan, Amy Thompson, Mattel's Organizations: Old Navy, Inc, Navy, LSEG, CNBC, Mattel, LA Clippers Locations: Posen

☆ After an earnings blow out, CEO explains how Gap is 'reigniting' its brand
▼ + stars: | 2024-03-07 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

After Gap 's earnings report topped Wall Street's expectations on Thursday, CEO Richard Dickson told CNBC's Jim Cramer how his company is managing to turn its business around. "We've been reigniting this brand and drawing on what the brand was so special in the first place, really taking on trend products and amplifying it in new ways that only Gap can," he said. "We're using music, we're using fashion as entertainment, and we're taking basic product—linen, denim, wovens, pants—and we're amplifying the narrative around these categories and driving share growth." In addition to its namesake brand, Gap owns brands including Old Navy, Banana Republic and Athleta. "Zac's creative expertise, his cultural clarity, it's consistently evolved American fashion," Dickson said.

Persons: Richard Dickson, CNBC's Jim Cramer, We've, Dickson, he's, Mattel's Barbie, Zac Posen, Richard Dickson's Organizations: Mattel, Old Navy, Banana, Navy Locations: Banana Republic

Guidepost didn't immediately respond to an email asking whether Morris & Dickson remains a client. Neither the DEA or Morris & Dickson immediately responded to a request for comment. While Morris & Dickson has managed to stay open, several of the pharmacies it supplied have closed, had their licenses revoked by the DEA or have been criminally prosecuted. Yet Morris & Dickson never suspended any shipments to the pharmacy. Over three years, it filed just three suspicious order reports to the DEA – none of which resulted in shipments being suspended.

Persons: Anne Milgram, Morris, Charles Dorman, Milgram's, Louis Milione, Milione, Morris & Dickson, Guidepost didn't, Dickson, ”, Katherine Pfaff, Judge Dorman, Wilkinson, Keith Wilkinson laundered, ___ Goodman Organizations: U.S . Drug, Morris, Dickson Co, Associated Press, AP, DEA, Morris & Dickson, Purdue Pharma, Guidepost Solutions, Morris &, Wilkinson Family Locations: Shreveport, La, New York, Morris, New Orleans, Miami, Mustian, Investigative@ap.org

The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. If current gains hold, shares will have nearly doubled since late July after the former Mattel (MAT.O) executive was appointed to revive the once sought-after brand. Gap's third-quarter earnings release Thursday showed significant inventory destocking, even as its holiday-season forecast disappointed. However, Gap joined other retailers in sounding a cautious note on spending, heading into the all-important shopping season. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Meyssonnier, Richard Dickson, Dickson, David Swartz, Swartz, Katrina O'Connell, Gap, Ananya Mariam Rajesh, Shinjini Ganguli Organizations: REUTERS, Mattel, Gap's Old Navy, Morningstar, Navy, Walmart, Banana Republic, Thomson Locations: Paris, France, Bengaluru

☆ Gap shares soar on Old Navy brand renewal, controlled inventory
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Comparable sales at Old Navy rose 1% in the third quarter, the first increase in 10 quarters. "Old Navy gained market share, an encouraging early proof point that work to improve both product assortment and brand messaging" were driving results, Gap Chief Financial Officer Katrina O'Connell said on Thursday following the earnings. Gap's struggles with outdated inventory at its namesake brand and Old Navy had pushed customers to look for newer and fresher styles at rivals like Shein and Amazon.com (AMZN.O). Jefferies analysts said new CEO Richard Dickson's prior experience in reinvigorating brands like Barbie at Mattel (MAT.O) could bring a lift to the Old Navy banner. The apparel maker's executives also alluded to a "longer recovery" time for Banana Republic and Athleta, which has seen "product misfires" and weak "retail execution".

Persons: Sarah Meyssonnier, Katrina O'Connell, Richard Dickson's, Barbie, Ananya Mariam Rajesh, Sriraj Organizations: REUTERS, Old Navy, Walmart, Advisory, Navy, Jefferies, Mattel, Banana Republic, Thomson Locations: Paris, France, trendier, encouragingly, Bengaluru

☆ Gap's new CEO thinks he can make Banana Republic a 'quiet luxury' destination
▼ + stars: | 2023-11-17 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

He wants to turn Banana Republic into a quiet luxury brand. AdvertisementGap's new CEO wants to transform its Banana Republic brand into the next destination for quiet luxury. Dickson's plan to reverse this downward trend includes turning Banana Republic into a quiet luxury brand by elevating its aesthetic and product offerings. "We think Banana Republic has an opportunity to thrive in the quiet luxury space," Dickson said. Quiet luxury clothing and accessories are devoid of logos or prominent branding and typically come in neutral or muted colors.

Persons: Richard Dickson, —, Dickson, Loro Piana Organizations: Service, Republic, Mattel, Navy, Inc, Banana Republic Locations: Banana, Banana Republic

☆ Fight over Texas anti-abortion transport bans reaches biggest battlegrounds yet
▼ + stars: | 2023-10-23 | by ( Julia Harte | ) www.reuters.com time to read: +5 min

A few hours north, the Amarillo City Council on Tuesday will weigh its own such law, which could lead to a future council or city-wide vote. He took that approach in Odessa's city elections in 2022 after the council initially blocked one of his "sanctuary city for the unborn" proposals. Not all backers of abortion restrictions support Dickson's transport bans, however. The debates over the transport bans are spurring new shows of support for abortion access. Abortion rights supporters, including four abortion funds in Texas, said they expected the transport bans to backfire on the anti-abortion movement by galvanizing political participation from abortion rights advocates in the lead-up to next year's presidential election.

Persons: Evelyn Hockstein, Roe, Mark Lee Dickson, Dickson, Jason Corley, Corley, Amarillo Mayor Cole Stanley, Kimberleigh Gonzalez, Gonzalez, Rachel O'Leary Carmona, Julia Harte, Colleen Jenkins, Leslie Adler Organizations: Alamo Women's Clinic, REUTERS, Supreme, Amarillo City, federal, Constitutionalist, Amarillo, Thomson Locations: Albuquerque , New Mexico, U.S, Texas, Wade, Lubbock County, Amarillo, Lubbock, New Mexico, Odessa's, Odessa

☆ Gap reports another period of declining sales across all brands, warns of 'uncertain consumer'
▼ + stars: | 2023-08-24 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +7 min

In this article GPS Follow your favorite stocks CREATE FREE ACCOUNTPedestrians walk past Old Navy and GAP stores in Times Square, New York City. The company is projecting net sales to decrease in the low double-digit range for the fiscal third quarter compared to last year's net sales of $4.04 billion. Sales declined 6% at Old Navy, on top of a sharp 13.6% decline in the prior-year period. Gap is betting Dickson can breathe new life into Gap's brands: its namesake banner, Old Navy, Banana Republic and Athleta. "We know that regardless of market conditions, strong brands, brands that matter, win," said O'Connell.

Persons: Drew Angerer, Katrina O'Connell, Neil Saunders, StreetAccount, Richard Dickson's, Mattel's Barbie, Dickson, Here's, Chris Blakeslee, Alo Yoga, O'Connell Organizations: Navy, GAP, Refinitiv, Old Navy, Mattel, Banana, Republic Locations: Times Square , New York City, Banana Republic, women's, men's, Gap China, North America

A lawsuit claims Rudy Giuliani was paid $300,000 while pitching investors on an anti-Biden film. Giuliani allegedly said it would be a "kill shot" that would sink Joe Biden's campaign. By then, Giuliani was hard at work trying to dig up election-year dirt on Joe Biden in his capacity as President Trump's personal attorney. Giuliani, the lawsuit alleges, asked for the farmers' help finance efforts to make sure Trump was elected to a second term. The aborted Giuliani film project also forms part of a whistleblower disclosure from Johnathan Buma, an FBI special agent whose allegations were first reported by Insider.

Persons: Rudy Giuliani, Biden, Giuliani, Joe Biden's, Joe Biden, Hunter, Baldev, Kewel Munger, Tim Yale, Trump, George Dickson III, Hunter Biden, Dickson, Michael Moore's, Noelle Dunphy, John Doe, Mother Jones, Munger, Johnathan Buma, Bob Hawk Organizations: Service, Republican, Yale, Republicans, FBI, Munger Bros Locations: Wall, Silicon, Ukraine, California, New York City, Munger, Georgia, Washington

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