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Urbn IT Business Systems Analyst, Merchandising Systems
Permanent · PHILADELPHIA
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Free People: Senior Buyer, Denim/Bottoms
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UNDER ARMOUR
Stock Teammate, Part-Time, Starting Pay $15 Per Hour
Permanent · TULALIP BAY
COLUMBIA SPORTSWEAR COMPANY
Operations Manager - Swing Shift
Permanent · PORTLAND
BLOOMINGDALE'S
Asset Protection Detective, Full Time, Roosevelt Field
Permanent · GARDEN CITY
BLOOMINGDALE'S
Manager, Sales - Fine Jewelry
Permanent · ORLANDO
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Bloomie's
Permanent · FAIRFAX
ADIDAS
Retail General Manager Adidas - Sawgrass Mills 6156, Sunrise, fl
Permanent · SUNRISE
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Urban Outfitters Visual Merchandising Manager
Permanent · PALO ALTO
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Urban Outfitters Visual Merchandising Manager
Permanent · TUCSON
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Anthropologie Design Director - Furniture
Permanent · PHILADELPHIA
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Anthropologie Design Director - Fabric & Textile Concept
Permanent · PHILADELPHIA
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Free People Associate Merchandise Planner
Permanent · PHILADELPHIA
BATH & BODY WORKS
Manager, Public Relations & Influencer
Permanent · REYNOLDSBURG
COLUMBIA
International Marketing Manager
Permanent · PORTLAND
URBN
Urbn Financial Analyst
Permanent · PHILADELPHIA
URBN
Free People CRM Analyst
Permanent · PHILADELPHIA
URBN
Free People Assistant Visual Manager
Permanent · WASHINGTON
BATH & BODY WORKS
Senior Manager, Stores Learning And Development
Permanent · COLUMBUS
TUMI
Director, Global Marketing
Permanent · NEW YORK
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODBURY
By
Reuters
Published
Jun 5, 2020
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Gap reports huge first-quarter loss on coronavirus-led store closures

By
Reuters
Published
Jun 5, 2020

Gap Inc on Thursday reported a whopping first-quarter loss of $932 million as the apparel retailer wrote down the value of some assets due to coronavirus-driven store closures, sending its shares down about 5% after the bell.


Instagram: @gap


Retailers that sell non-essential goods, especially clothing, have been crushed by restrictions imposed to contain the pandemic as they were forced to restrict their businesses to online operations and curbside pickups.

San Francisco-based Gap, which operates nearly 2,800 stores in North America, said 55% company-operated stores in North American were now open.

Chief Executive Officer Sonia Syngal said sales continued to reflect “material declines in May as a result of closures” but added that online sales were improving.

Net loss came in at $932 million, or $2.51 per share, for the three months ended May 2, compared with a profit of $227 million, or 60 cents per share, a year earlier.

The loss also included a $484 million writedown on store and operating lease assets and an inventory impairment charge of $235 million.

Net sales fell 43% to $2.11 billion from $3.71 billion.

Analysts had forecast a loss of 67 cents per share and revenue of $2.30 billion, according to IBES data from Refinitiv.

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