Gap shares jump on surprise quarterly profitfoxbusiness.com/markets/gap-shares-jump-surprise-quarterly-profit
Gap says restructuring efforts and easing supply chain costs led to a surprise profit in the first quarter.
Investors liked the news, sending shares of the retailer jumping as high as 16% in extended trading.
Executives said the company spent less on salaries and other operating costs in a bid to improve margins, along with efforts to reduce inventories.
The company has…
This story appeared on foxbusiness.com, 2023-05-26.