77
Fashion Jobs
BEIERSDORF
Sales Representative North Greece (Based in Thessaloniki)
Permanent · ATHENS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
BEIERSDORF
Junior Pos Materials & Execution Specialist (Temp Position)
Fixed-term · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALLITHEA
By
Reuters
Published
Nov 18, 2022
Reading time
2 minutes
Download
Download the article
Print
Text size

Gap beats quarterly estimates on steady demand for formal clothing

By
Reuters
Published
Nov 18, 2022

Gap Inc beat Wall Street estimates for quarterly sales and profit on Thursday, helped by steady demand from affluent consumers for its formal clothing and dresses despite a surge in inflation, sending its shares up about 10% in extended trading.


Gap Inc


People are preferring more formal clothing, dresses, woven tops and pants, shelving casual wear like t-shirts and shorts as they return to travel, work and social occasions after two years of pandemic-induced restrictions.

Gap's Banana Republic, an affordable luxury brand, posted an 8% rise in sales, while its Old Navy brand that has been struggling with out-of-fashion clothes reported a 2% increase.

However, Gap echoed retailer Kohl's, which on Thursday warned soaring prices of essential commodities had dampened lower-income consumers' spending on non-essentials like apparel.

It expects fourth-quarter net sales to be down in mid-single digits, compared with analysts' expectations of a 0.6% decline, according to Refinitiv IBES data.

"We did see strong volume in October slow a bit in the end and a little bit of a slow start to November," finance chief Katrina O'Connell said on a post-earnings call.

Gap is expected to continue to struggle over the next 12 months because of its low- to middle-income consumer base and underperforming brands, Zachary Warring, equity analyst at CFRA Research said.

Heading into the holiday season and 2023, discounts could continue for brands like Gap due to a weaker consumer, he added.

The company reported $53 million in impairment charges related to Yeezy Gap. In October, Gap removed products from its Yeezy Gap line created in partnership with Kanye West, and shut down YeezyGap.com following the rapper's anti-Semitic comments.

Gap's third-quarter net sales rose 2.5% to $4.04 billion, topping analysts' estimates of $3.80 billion. Excluding items, it booked a profit of 38 cents per share, compared with expectations of a break-even.

© Thomson Reuters 2024 All rights reserved.