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Gap's Q4 sales lead to better profit outlook
Gap Inc. is raising its profit guidance based on its fourth-quarter sales and reduced taxes.
The retailer says it expects to report a profit of $2.86 to $2.87 per share for the year, up from its previous estimate of $2.73 to $2.78 per share. Analysts expected $2.74 per share on average.
The San Francisco company says its total fourth-quarter sales grew 3% to $4.71 billion compared with $4.58 billion for the fourth quarter last year.
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Retail Real Estate Insights. For Retailers. By Retailers.
For Los Angeles-based fashion retailer Forever 21, the journey from a single location on Figueroa Street in L.A. in 1984 to more than 680 global locations today has been transformative. Over the last three decades, the brand has not shied away from innovation and experimentation, implementing a range of different store sizes and concepts along the way: from smaller 5,000-sq.-ft. layouts in its early years, to larger 9,000-sq.-ft. concepts in the 2000s and a range of big-box stores that range up to 40,000 sq. ft.

