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Fashion Jobs
H&M
Facility Manager - h&m Group Head Office in Stockholm
Permanent · Stockholm
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Label Compliance Specialist - Global Label & Packaging Content Solutions Team
Permanent · Stockholm
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Business Expert Within Allocation Precision
Permanent · Stockholm
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HR Business Partner to h&m Kids
Permanent · Stockholm
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Product Owner For Loyalty Products Within Customer Engagement Area
Permanent · Stockholm
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Business Expert Within Allocation Precision
Permanent · Stockholm
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Way of Working Specialist - Data & Analytics at h&m Business Tech
Permanent · Stockholm
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Business Expert in Inclusion & Diversity to h&m Group Business Tech
Permanent · Stockholm
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Product Owner – Gift Card Experience
Permanent · Stockholm
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CRM Specialist E-Mail And Push
Permanent · Stockholm
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Product Owner to Payments Area
Permanent · Stockholm
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Project Leader to Business Unit Menswear
Permanent · Stockholm
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Product Owner – Mobile Devices in Store
Permanent · Stockholm
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Business Expert to Digital Product Data Carriers
Permanent · Stockholm
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Product Owner Within Topdown Planning Regions And Markets to h&m Group
Permanent · Stockholm
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Talent Acquisition Partner to Business Tech – h&m Group
Permanent · Stockholm
H&M
Global Head of SEO
Permanent · Stockholm
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Product Owner to Customer Engagement Area at h&m
Permanent · Stockholm
H&M
Senior Data Analyst to Allocation Precision Team to Business Tech
Permanent · Stockholm
H&M
Team Responsible Operational Purchasing
Permanent · Stockholm
H&M
HR Specialist With Focus on HR Analytics to Business Tech HR
Permanent · Stockholm
H&M
Agile Program Manager Within Supply Chain
Permanent · Stockholm
By
Reuters API
Published
Aug 27, 2021
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Old Navy, Athleta power Gap sales forecast, shares jump

By
Reuters API
Published
Aug 27, 2021

Gap Inc on Thursday raised its full-year net sales forecast for the second time, betting on hot demand for its Old Navy and Athleta clothing brands as socializing makes a comeback with easing pandemic curbs.

Gap expects fiscal 2021 net sales growth of about 30% versus a prior forecast in the low-to-mid 20% range - Reuters


Shares jumped 7% in extended trading after Gap said Old Navy's net sales increased 21% in the second quarter from 2019 levels, while Athleta surged 35%.

San Francisco-based Gap also lifted its annual profit estimate, with both forecasts coming in above Wall Street expectations as the return to relative normalcy powers sales across the apparel industry - from department stores Macy's and Kohl's to discounters like T.J. Maxx.

Even clothing chains that had stocked up generously are running out of tops and dresses as schools and colleges reopen, and people celebrate weddings, graduations and group events again, analysts had said.

Gap is also benefiting from tie-ups with celebrities including rapper Kanye West and Olympian Simon Biles, while sharpening its focus on inclusivity.

Like its peers, the Banana Republic brand owner has been spending more on its digital business to tap the pandemic-accelerated shift to online shopping. Earlier on Thursday, Gap said it bought Drapr, a startup that lets customers try on clothes virtually.

"Stepped-up marketing investments, improved brand management, and technology enhancements are paying off," Chief Executive Officer Sonia Syngal said in a statement.

Gap expects fiscal 2021 net sales growth of about 30% versus a prior forecast in the low-to-mid 20% range. Analysts estimated a 24.3% growth, according to IBES data from Refinitiv.

The company forecast annual profit, excluding some charges, between $2.10 and $2.25 per share from $1.60 to $1.75 earlier. Analysts expected a profit of $1.80 per share.

Net sales rose 29% to $4.21 billion in the second quarter, beating estimates of $4.13 billion.
 

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