GAP, Inc. (GPS)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Gap, Inc. ("GAP" or "the Company") (NYSE: GPS). Investors who purchased Gap securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Gap and certain of its officers and/or directors have violated federal securities laws.
On May 20, 2022, The Wall Street Journal published an article 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 report said 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.” The article continued 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.” The article also 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[.]” Following this news, Gap stock dropped 5% to close at $10.33 per share on May 23, 2022.
If you are aware of any facts relating to this investigation or purchased Gap shares you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.