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Fly News Breaks for June 16, 2015
GPS
Jun 16, 2015 | 08:22 EDT
FBR Capital notes Gap's restructuring which includes 175 planned store closures well exceeded its estimate of 100 closures. FBR views Gap's plans as "necessary and positive" and thinks the changes will likely bring stabilization over time to store productivity. The firm, however, still thinks the Gap segment may remain under pressure near term as it transitions its assortment. FBR keeps a Market Perform rating on Gap.
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GPS
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