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Gap Snaps Slump With Sales Gain

·1 min

Gap Inc. posted higher quarterly sales, signaling progress in its turnaround efforts. The retailer’s new CEO, Richard Dickson, reported that all four of Gap Inc.’s brands - Gap, Old Navy, Banana Republic, and Athleta - achieved gains in the latest quarter. Excluding newly opened or closed stores, the company’s sales rose 3% on that basis. This is a positive result for the company, considering the streak of lackluster results in previous quarters. Dickson’s plan for revitalizing Gap Inc. seems to be paying off.