New 'Marketing Muscles' Helped Drive Gap Sales

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UK supermarket sales set for Euro 2024 fillip, says NIQ

LONDON (Reuters) - The return of some warm weather in May helped drive sales growth at British supermarkets and they are set for a boost from the upcoming Euro 2024 soccer championship, according to industry data published on Friday.

Market researcher NIQ said sales at UK supermarkets rose 3.3% in the four weeks ending May 18 year-on-year, thanks to a brief period of hot weather in the week ending May 11.

⁘It was the warm weather which helped to move the dial in terms of shopper spending at the UK supermarkets, more so than food inflation, which is expected to remain at around 3% for the next few months,⁘ Mike Watkins, NIQ's UK head of retailer and business insight, said.

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Shares of Gap ( GPS ) are surging after the company revealed first quarter comparable sales grew year over year for all four of its brands. Gap CEO and President Richard Dickson spoke with Yahoo Finance Executive Editor Brian Sozzi about the company's strategy and outlook. Dickson claims the company still has more work to do, adding, "it's not a sprint, it's a marathon."

Telsey Advisory Group CEO Dana Telsey joins Catalysts to give insight into Gap's performance and the drivers that brought customers into the company's doors.

"Where the product is new, where there is innovation behind it, where there's compelling marketing, it's resonating. And yes, it was a Gap brand, but take a look at Birkenstock ( BIRK ), take a look at Abercrombie & Fitch ( ANF ), take a look at Ralph Lauren (RL) and Deckers ( DECK ). All were able to drive sales increases because of new marketing muscles put behind the product, and the value pricing that some of these products have with it. Because consumers today still remain what I call squishy, they're being very cautious in where they decide to spend their dollars."

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

Shares are surging after blowing past the street's expectations in its first quarter print, we got the retailer posting sales growth in all four of its brands.

So let's start with gap and then we can talk about where, what, what we're seeing elsewhere, uh industry, why?

But when it comes to gap's results last night, what do you think of what Dixon just had to say just in terms of they're not out of the woods just yet they have more work to do, but it does seem like their product is resonating a bit better here with the consumer.

I think the Banana Republic brand is still a ways away from showing consistent improvement given there's still search for a new leader there.

It was good to see that the core bottoms improved at Athleta, but it did take promotions in order to move that and always under the hood at Gap with expenses and mar margin management, they've done a good job.