Gap: ‘One Too Many Cracks in the Pavement’

In a note title One Too Many Cracks in the Pavement, MKM Partners’ Roxanne Meyer cut Gap (GPS) to Hold from Buy following the retailer’s latest disappointing update. She explains why: Craig Warga/Bloomberg News On the back of expectations for significant gross margin erosion in 3Q with shortfall likely across brands, we are downgrading shares of […]