/cloudfront-us-east-2.images.arcpublishing.com/reuters/GFRBVFWDWVPZDM2YEB4AWCMRSQ.jpg?fit=758%2C9999&ssl=1 "Gap raises 2021 forecasts as apparel shopping gains momentum")
A sign hangs outside a GAP clothing retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Mike Segar
Gap Inc (GPS.N) raised its forecast for annual sales and profit, expecting an unabated surge in demand for new apparel as more people begin to step out and socialize after a year of hunkering down at home due to the pandemic.
The San Francisco-based retailer’s shares, which have gained nearly 75% this year, rose 2% in extended trading on Thursday after Gap swung to a first-quarter profit.
Following what is seen as a boom quarter for the retail sector, Gap is also reaping its…
