Early earnings release halted Gap shares.
- Gap shares were halted after the apparent early release of its quarterly earnings.
- The apparel retailer's results will be posted after the bell on Thursday, as reportedly seen in a brief presentation on its website in the morning.
- Richard Dickson, CEO of the legacy retailer, aims to lead a sales turnaround by posting results.
Its quarterly earnings results were apparently released early, causing shares to be halted Thursday morning.
Gap's website briefly displayed a presentation showing the apparel retailer's second-quarter earnings before the scheduled release after the closing bell Thursday.
Gap's earnings were no longer visible on their site when the stock was halted at 9:59 a.m. ET, causing shares to drop by almost 1%.
Gap did not immediately respond to a request for comment.
Richard Dickson, the CEO of Gap, is attempting to turn around the company's sales while maintaining positive growth in its first quarter, with all four brands, Gap, Banana Republic, Athleta, and Old Navy, showing comparable sales growth.
This story is developing. Please check back for updates.
Business News
You might also like
- Chinese travel preferences are shifting, as indicated by bookings during the 'Golden Week'.
- America's small businesses are facing a crucial decision, similar to the rest of the nation.
- Kamala Harris is determined to combat price gouging, but there is a lack of consensus on its definition.
- EchoStar is close to finalizing a deal to sell Dish Network with a $2 billion debt payment impending.
- The number of viewers for the WNBA has surpassed a previous record, while attendance has reached a 20-year high.