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Fly News Breaks for July 5, 2016
GPS
Jul 5, 2016 | 07:38 EDT
Wells Fargo predicts that Gap will report that its June comp sales rose 3%-4%, versus the Street's consensus estimate of a 3% decline. The firm thinks that the company benefited from the shift of Memorial Day to June this year, along with improved weather trends that enabled it to benefit from the release of pent-up demand. The firm adds that the company's promotional levels have stabilized.
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