Gap Inc.’s IDR Cut to Junk by Fitch with Stable Outlook
Source: BFW (Bloomberg First Word)
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GPS US (Gap Inc/The)
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UUID: 7947283
(Bloomberg) --The downgrade reflects reduced confidence in stabilization of sales, expectations of continued gross margin volatility, and belief that Gap will need to continue using real estate actions and large-scale cost reduction programs to protect EBITDA in the face of sales declines, Fitch says.
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Alert: HALISTERSource: BFW (Bloomberg First Word)
Tickers
GPS US (Gap Inc/The)
To de-activate this alert, click here
UUID: 7947283