Gap lowers full-year outlook as net sales fall 10% in Q3
Source: Mintel 25-11-2021

UK 25-11-2021

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Amid the global supply-chain crisis, clothing retailer Gap has lowered its full-year outlook for 2021 from 30% sales growth to 20%. Net sales in Q3 dropped by 10% against 2019 although online sales were up 48% against 2019 and now represent 38% of the total.

Sonia Syngal, chief executive, said: “While we entered the third quarter with growing momentum, acute supply chain headwinds affected our ability to fully meet strong customer demand.”