Shares halted after apparent early release

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Shares halted after apparent early release

Facade of GAP retail store with logo sign on sunny day, San Francisco, California, June 7, 2024. 

Nurphoto | Nurphoto | Getty Images

Gap shares were halted Thursday morning after its quarterly earnings results were apparently released early.

The apparel retailer is set to post second-quarter earnings after the closing bell Thursday. But Bloomberg reported that a presentation showing the results briefly appeared on Gap’s website in the morning.

The earnings no longer appeared to be posted on Gap’s site when the stock was halted just before 10 a.m. ET. Shares were down nearly 1% before the trading pause.

Gap did not immediately respond to a request for comment.

Gap’s earnings come as CEO Richard Dickson, who took the helm last year, tries to lead a sales turnaround at the legacy retailer. The company showed early positive signs in its first quarter, when it posted comparable sales growth at all four of its brands, Gap, Banana Republic, Athleta and Old Navy.

This story is developing. Please check back for updates.

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