Law Offices of Howard G. Smith announces an investigation on behalf of The Gap, Inc. (“Gap” or the “Company”) (NYSE: GPS) investors concerning the Company’s possible violations of federal securities laws.
On May 20, 2022, The Wall Street Journal published an article stating that Old Navy’s inclusive, extended sizing had resulted in “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 also pointed out that Old Navy accounts for 54% of Gap’s sales and roughly 80% of the profits, and that Gap had warned that spring quarter sales would fall short of expectations because of troubles at Old Navy.
On this news, Gap’s stock fell $0.60, or 5.5%, to close at $10.33 per share on May 23, 2022, thereby injuring investors.
If you purchased Gap securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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