Welcome to the Extreme Investor Network blog where we bring you the latest and most exclusive business news updates. Today, we are covering the recent development with Gap shares being halted after their quarterly earnings results were apparently released early.
Gap, the popular apparel retailer, was scheduled to release its second-quarter earnings after the closing bell on Thursday. However, Bloomberg reported that a presentation showing the results briefly appeared on Gap’s website in the morning, leading to the trading pause.
CEO Richard Dickson, who took over last year, has been working towards a sales turnaround at the legacy retailer. In the first quarter, Gap showed promising signs with comparable sales growth across all four of its brands – Gap, Banana Republic, Athleta, and Old Navy.
As investors eagerly await Gap’s official earnings report, the stock was down nearly 1% before the trading halt. The company did not immediately respond to requests for comment, adding to the speculation surrounding the early release of results.
Stay tuned as we continue to monitor this developing story and provide you with the latest updates. For more exclusive business news and insights, make sure to follow Extreme Investor Network.