Gap (GAP) Inc. is holding its ground with all shoppers, even as consumer spending shows signs of strain.
"We're winning with all income cohorts," Gap CEO Richard **** son told Yahoo Finance's Market Catalysts. "We see equal growth across low, middle, and high [income shoppers]."
The company's two biggest brands, Old Navy and Gap, are showing consistent strength, posting consecutive quarters of positive comparable sales — a sign its turnaround strategy may be sticking.
Gap stock rose over 8% in Friday trading following **** son's comments. It's up 5.5% year to date, underperforming the S&P 5