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On August 29, Gap posted strong earnings that pleased investors, doubling net income from a year prior and blowing past revenue expectations to $3.7 billion in the second quarter.
It’s a triumphant comeback for the company that has been struggling in recent years. With the exit of leaders like Sonia Syngal and a 7% drop in sales, new CEO Richard Dickson, who took over last year, has been working to turn things around at Gap. The numbers show that the plan is working.
Dickson said in his comments on the earnings call that Gap’s continued popularity with different age groups was one of its biggest assets. One of its best campaigns, he said, was the fall 2024 Get Loose campaign, focused on baggy and oversized clothing, which is popular among younger consumers.
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English (US) ·