The Gap Inc. (NYSE:GPS) has announced plans to produce clothing in Myanmar, the first American retailer to enter the market since the Southeast Asian country began its transition to democracy three years ago. Two factories in the commercial capital, Yangon, are reportedly producing vests and jackets for the company’s Old Navy and Banana Republic brands. They will be ready for sale in the U.S. by this summer, according to a statement released Saturday by the U.S. Embassy.The Gap Inc. (NYSE:GPS) net profit margin is 7.50% and weekly performance is 2.01%. On last trading day company shares ended up $42.06. Analysts mean target price for the company is $44.50. The Gap Inc. (NYSE:GPS) distance from 50-day simple moving average (SMA50) is 4.92%.
On May 28, With a view to continue its shareholder-friendly moves, Urban Outfitters, Inc. (NASDAQ:URBN) recently announced a share repurchase program of 10 million shares. Prior to this, the company completely exhausted its 10 million share buyback program authorized in August last year by its board of directors. Probably, this step will help win back investors’ confidence in the stock, after a dismal bottom-line performance in the recently concluded quarter. Urban Outfitters, Inc. (NASDAQ:URBN) shares advanced 0.61% in last trading session and ended the day on $34.40. URBN Gross Margin is 37.20% and its return on assets is 13.20%. Urban Outfitters, Inc. (NASDAQ:URBN) quarterly performance is -8.41%.
On May 27, The Wet Seal, Inc.(NASDAQ:WTSL) announced financial results for the first quarter of fiscal 2014 ended May 3, 2014. Net sales for the quarter ended May 3, 2014, were $116.7 million compared to net sales of $140.4 million for the quarter ended May 4, 2013. Consolidated comparable store sales declined 16.9%, including a decline of 16.5% at Wet Seal and 19.4% at Arden B. Comparable store sales results include e-commerce, which alone increased 1.9%, including an 8.4% increase at Wet Seal, offset by a 20.0% decrease at Arden B. Gross profit was $23.1 million compared to $42.2 million, while gross margin was 19.8% versus 30.1%, in the first quarter of last year. The Wet Seal, Inc.(NASDAQ:WTSL) shares moved up 1.20% in last trading session and was closed at $0.8111, while trading in range of $0.81 – $0.83. The Wet Seal, Inc.(NASDAQ:WTSL) year to date (YTD) performance is -70.33%.
bebe Stores (NASDAQ:BEBE) CEO Steve Birkhold sold 140,980 shares of the company’s stock on the open market in a transaction dated Thursday, May 29th. The shares were sold at an average price of $4.07, for a total transaction of $573,788.60. bebe stores, inc. (NASDAQ:BEBE) ended the last trading day at $3.31. Company weekly volatility is calculated as 7.50% and price to cash ratio as 2.06. bebe stores, inc. (NASDAQ:BEBE) showed a negative weekly performance of -18.67%.
On June 2, Cache, Inc. (NASDAQ:CACH), announced that it closed an underwritten public offering of 9,200,000 shares of common stock at a price to the public of $1.75 per share, which includes the exercise of the underwriter’s option to purchase 1,200,000 additional shares of common stock. Cache plans to use the approximately $15.0 million in net proceeds for working capital and general corporate purposes. B. Riley & Co., LLC acted as the sole underwriter. Cache, Inc. (NASDAQ:CACH) ended the last trading day at $1.65. Company weekly volatility is calculated as 9.20% and price to cash ratio as 11.31. Cache, Inc. (NASDAQ:CACH) showed a negative weekly performance of -7.30%.