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Gap Shares Get Stronger on Deal with Kanye West's Yeezy -- Market Talk

Dow Jones Newswires ·  Jun 26, 2020 23:34

DJ Gap Shares Get Stronger on Deal with Kanye West's Yeezy -- Market Talk

11:33 ET - Gap soars 29% after it said it's teaming up with Kanye West's fashion brand Yeezy on a collection that will debut next year. The casual-clothing retailer is betting hoodies and other clothes designed by the music and fashion impresario will help pull it out of its yearslong slump. Wells Fargo says West's partnership with Adidas created a halo for the brand and drove its stock and demand. "While this announcement was unexpected, it is highly aligned with our view that GPS ownership and new management have taken on a new 'all options on the table' mentality, and are highly committed to finding new and creative ways to unlock value from their portfolio," Wells Fargo says. (dave.sebastian@wsj.com; @depsebastian)

(END) Dow Jones Newswires

June 26, 2020 11:34 ET (15:34 GMT)

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