GAP retail store facade with logo sign on a sunny day in San Francisco, California on June 7, 2024.
Noor Photos | Noor Photos | Getty Images
gap Trading in the company’s shares was halted Thursday morning after its quarterly earnings results were announced apparently ahead of schedule.
The apparel retailer is scheduled to report second-quarter earnings after the market close on Thursday. but Bloomberg reports In the morning, a briefing showing the results was briefly displayed on Gap’s website.
When Gap stock was halted just before 10 a.m. ET, the earnings report no longer appeared to be posted on the company’s website. The stock price fell nearly 1% before the trading suspension.
Gap did not immediately respond to a request for comment.
Gap’s earnings announcement comes as Chief Executive Richard Dickson, who took over last year, is trying to turn the traditional retailer back into the black. The company showed early positive signs in the first quarter, when Announces comparable sales growth All four of its brands: Gap, Banana Republic, Athleta and Old Navy.
Investors are watching this week’s retail earnings for signs of whether consumer spending will slow in the second half of the year. Dollar General Discount retailer shares plunge Thursday morning Sharply lowered sales and profit forecastsciting in part “financial constraints” on low-income consumers.
Both American Eagle Outfitters and best buy Show progress in increase profits when they report earnings on Thursday. But the clothing retailer is cautious about its outlook for the second half of the year, while the electronics giant continues to struggle to return to sales growth.
lululemon and ultimate beauty Results will also be announced after the bell on Thursday.
This story is developing. Please check back for updates.
