The American clothing chain GAP, which is a competitor to Swedish H&M primarily on the North American market, is raising its sales forecast for the current fiscal year. From previously being at 1 percent, the assessment is now that sales for the full year will increase by between 1.5-2 percent, according to the company.
According to the company's CEO, they see primarily a greater demand from middle- and high-income earners. The stock is also surging by over 15 percent on the New York Stock Exchange.
