May 31, 2019
Net income from continuing operations was $6,346,000 in the first quarter against a loss of $2,331,000 last year on sales that gained 2% excluding the divested Lids Sports Group to $495,651,000 from $486,219,000 boosted by a 6% improvement at Journeys.
As the trade standoff between the U.S. and China continues, President Trump took to Twitter to add Mexico to the list of countries subject to import tariffs.
Athleta and Intermix sales, which Gap reports as its Other segment, increased 6% in the first quarter to $287 million from $270 million with headwinds from cold and rainy weather in the beginning of the quarter.
Bass Pro sees the ratings agency maintain its Ba3 Corporate Family Rating following the completion of a periodic review of the outdoor retailer.
The outdoor brand was roundly criticized in online media after its ad agency Leo Burnett uploaded photos of people wearing its apparel and using its gear at adventure destinations to the Wikipedia pages for those sites.