Gap posts surprise profit on Banana Republic boost; withdraws forecasts
Gap Inc (GPS.N) reported a surprise quarterly profit on Thursday on demand for dressier clothes at its Banana Republic brand, while an inventory glut and weak sales of outdated clothes prompted it to withdraw annual forecasts.
Exclusive: Samsung workers in Vietnam bear brunt of slowdown in global demand for electronics
Samsung Electronics Co Ltd has scaled back production at its massive smartphone plant in Vietnam, employees say, as retailers and warehouses grapple with rising inventory amid a global fall in consumer spending.
