The Gap Taking Heat

Stephen Foley writes for the The Independent (UK):

Todd Slater, retail sector analyst at Lazard Capital Markets, abandoned his buy recommendation on Gap shares yesterday, telling clients to "throw in the towel before losing your shirt".

He wrote: "Channel checks indicate that Gap is cancelling an enormous amount of product, especially denim, signalling a meaningful amount of internal disarray and lack of confidence in its spring merchandising plans."

The Independent Article