An investigation for investors in The Gap, Inc. (NYSE:GPS) shares over potential securities laws violations by The Gap, Inc. was announced and NYSE:GPS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/14/2022 -- An investigation was announced for investors of The Gap, Inc. (NYSE: GPS) shares over potential securities laws violations by The Gap, Inc.
Investors who purchased shares of The Gap, Inc. (NYSE: GPS), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of The Gap, Inc. (NYSE: GPS) concerning whether a series of statements by The Gap, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Francisco, CA based The Gap, Inc. operates as an apparel retail company. The Gap, Inc reported that its Total Revenue rose from over $13.8 billion for the 12 months period that ended on January 31, 2021, to $16.67 billion for the 12 months period that ended on January 31, 2022, and that its Net Loss of $665 million for the 12 months period that ended on January 31, 2021, turned to a Net Income of $256 million for the 12 months period that ended on January 31, 2022.
On May 20, 2022, an article was published entitled "Old Navy Made Clothing Sizes for Everyone. It Backfired. The clothing brand's push for inclusivity left it with a shortage of middle sizes. 'It's super-frustrating.'" The article stated that "Old Navy set out to make clothes shopping more inclusive for women of all body types. It ended up with too many extra-small and extra-large items and too few of the rest, a mismatch that frustrated customers and contributed to falling sales and a management shake-up." Further, the article stated that "Gap warned that sales for the spring quarter would fall short of expectations in part due to troubles at Old Navy[,]" but that "[t]he extended sizes were the culprit, according to current and former employees." Finally, the article stated that "Old Navy's stumbles don't bode well for Gap Inc. In 2021, Old Navy accounted for 54% of the company's sales and roughly 80% of profits[.]"
Shares of The Gap, Inc. (NYSE: GPS) declined from $15.36 per share on April 13, 2022, to as low as $8.75 per share on June 13, 2022.
Those who purchased shares of The Gap, Inc. (NYSE: GPS) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.