Gap Increases Outlook For FY24 Gross Margin From 150 Bps To 200 Bps; Operating Income From Mid 40% Growth Range To Mid To High 50% Growth Range
Portfolio Pulse from Benzinga Newsdesk
Gap Inc. has raised its financial outlook for fiscal year 2024, expecting gross margin to increase by 150 to 200 basis points and operating income growth to rise from the mid-40% range to the mid to high 50% range.
August 29, 2024 | 3:22 pm
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Gap Inc. has revised its FY24 financial outlook upwards, with expectations for gross margin to increase by 150 to 200 basis points and operating income growth to reach the mid to high 50% range.
The upward revision in Gap's financial outlook indicates stronger than expected performance, which is likely to positively impact investor sentiment and the stock price in the short term. The increase in gross margin and operating income growth suggests improved profitability.
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