Gap's Q3 results reflect supply chain challenges

2021-11-24

Gap spent an additional $100 million on airfreight costs in the third quarter to stock stores, and supply chain delays also cost the retailer about $300 million in lost sales, the company reported. CEO Sonia Syngal said the freight expenses were necessary for the retailer's four fashion banners to compete during the holiday season, despite the hit to third-quarter profits.

Full story:

NRF SmartBrief

News and trends about the U.S. Retail industry

Designed specifically for retail professionals, NRF SmartBrief is a FREE daily e-mail newsletter. It provides the latest need-to-know news and industry information that maximizes your time, giving you an edge over your competition.