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OFFON

THE GAP, INC.

(GPS)
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Gap : to sell Intermix clothing chain to private equity firm.

05/04/2021 | 05:42pm EDT

NEW YORK (AP) — Gap Inc. has signed a deal to sell the upscale clothing chain Intermix to private equity firm Altamont Capital Partners.

Gap said Tuesday that Altamont Capital intends to acquire the entire Intermix business, including all store leases, e-commerce and assets. Intermix operates 31 stores. It didn't disclose the purchase price.

The move comes as San Francisco-based Gap is trying to slim down its portfolio of brands to better focus on its namesake business as well as Old Navy, Banana Republic and Athleta. Last month, Gap completed a deal to sell Janie and Jack, a children's clothing chain to Go Global Retail, which invests in fashion and consumer brands. Gap had purchased the chain in 2019.

“We are committed to driving long-term, profitable growth for our shareholders," said Sally Gilligan, head of strategy for Gap in a statement.

Gap's stock slipped 25 cents to close at $35.22 on Tuesday. It is up 74% so far this year.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Financials (USD)
Sales 2022 16 186 M - -
Net income 2022 510 M - -
Net Debt 2022 191 M - -
P/E ratio 2022 26,6x
Yield 2022 2,23%
Capitalization 13 369 M 13 369 M -
EV / Sales 2022 0,84x
EV / Sales 2023 0,80x
Nbr of Employees 117 000
Free-Float 55,7%
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Technical analysis trends THE GAP, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 29,63 $
Last Close Price 35,66 $
Spread / Highest target 12,2%
Spread / Average Target -16,9%
Spread / Lowest Target -36,9%
EPS Revisions
Managers and Directors
NameTitle
Sonia Syngal President, Chief Executive Officer & Director
Katrina O'Connell Chief Financial Officer & Executive Vice President
Bob L. Martin Executive Chairman
Sally Gilligan Chief Information Officer
Shawn Curran Chief Operating Officer & Executive Vice President
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