The Mexican Peso (MXN) is holding in place, pinned into recent highs against the US Dollar (USD) as broad-market selling pressure keeps the Greenback in place and gives the Peso a chance to cover more ground even as a dovish Banco de Mexico (Banxico) weighs the potential for rate cuts as soon as 2024’s first quarter.
In fiscal Q3, the casual-apparel retailer's profit sped by Wall Street's expectations, as comparable sales at the Gap and Old Navy brands held steady, while Banana Republic and Athleta struggled.
Highlights:
3Q23 Net sales of $2.1 billion
Sales change ex. currency down 10%
Organic sales change down 11%
3Q23 Reported EPS of $1.71
Adjusted EPS of $2.10, up 9%.
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