Gap Inc. joined a growing list of apparel chains still struggling to keep their shelves stocked even as large retailers such as Walmart Inc. say they have been able to snag enough inventory for the holidays.
Gap reported net sales of $3.9 billion for the quarter ended Oct. 30, flat from 2020 and 1% lower than 2019. The company said its brands were unable to meet strong demand from shoppers as continued fallout from Covid-19 outbreaks led to factory closures and clogged ports. Shares dropped 17% in after-hours trading.
