Inventory and Merchandise Concerns Likely to Weigh on Near Term, Crimping Profits at Gap
No-moat Gap started 2019 with dismal results, with all segments suffering from weather and execution issues, leading to increased promotional activity. For the quarter, sales shrank 2% on 36.3% gross and 3.5% adjusted operating margins, below our estimates of 2% growth, 38%, and 8%, respectively for the year. Due to ongoing inventory issues that are set to persist in the upcoming quarter, management slashed its full-year targets, calling for comparable sales to decline in the low-single-digit ra...The Gap is an apparel retail company. The company provides apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. The company has stores in the U.S., Canada, the U.K., France, Ireland, Japan, Italy, China, Hong Kong, Taiwan, and Mexico, and has franchise agreements with unaffiliated franchisees to operate Old Navy, Gap, and Banana Republic stores throughout Asia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate stores that sell apparel and related products under the company's brand names.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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