Gap is doing well before Christmas – level 1

Gap is doing well before Christmas

27-11-2024 07:00

Gap’s shares go up by 177% on Friday after the company says that it will make more money this year.

Boss Richard Dixon says the holiday shopping season is going well. Gap grows in all its brands for the first time in two years. Dixon becomes Gap’s boss in August 2023. He is working to improve the store. He wants to sell at full price. This plan is working. Gap will sell fewer items at lower prices this holiday.

Gap now thinks its sales will grow by 1.5% to 2% this year. Even its brands, Athleta and Banana Republic, are more successful now.

Difficult words: brand (a product which a company sells under a certain name), improve (to make better), item (a thing).

You can watch the original video in the Level 3 section.

What strategy is Gap's boss, Richard Dixon, implementing to improve the store and how has it affected the company's sales projections for the year?

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