Wednesday, April 4, 2018
Gap Inc. Beats Earnings Predictions
A native of Brazil and resident of Florida, Eva Lea Klein has spent more than two decades in the retail and fashion industry. In addition to working as a sales professional in a retail store in Brazil, Eva Lea Klein spent eight years as a tailor for the Banana Republic store in Boca Raton, Florida.
Though the retail market continues to be tight for companies that rely on traditional brick-and-mortar stores, Banana Republic and its parent company, Gap Inc., exceeded expectations for the Q4 earnings report in 2017. In March of 2018, the company announced that its sales and revenue had far surpassed analyst predictions, pushing up the company’s price.
The higher-than-expected revenue was largely due, Gap reported, to an increase in holiday shopping at the company’s Old Navy locations, though other brands under the umbrella, such as Banana Republic, also saw a modest increase in sales. The company’s CEO stated during an investor call that he expects overall revenue to continue its upward trajectory; this is a result of the company’s strategy of shifting focus from its Gap and Banana Republic retail locations, to the more profitable Old Navy and Athleta brands.