Retail News

Supply chain hits Gap in the top and bottom lines

Reuters/The Denver Gazette 11/24/2021

Gap Inc. has lowered its full year forecast after factory closures in Vietnam cut into its saleable inventory and supply chain workarounds ate into its profit margins. “While we had planned into the known supply chain constraints as we entered the quarter, including COVID-related closures in Vietnam, the shock to our business persisted longer than anticipated,” CEO Sonia Syngal said.

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