Police In New York State Confirmed That Gap'S Warehouse Fire Was Intentional Arson

New York police issued a statement, said

Inc. Cape group New York 50 km away Fishkill distribution center fire arson

New York police confirm us largest

Group Gap Inc. Cape group last month's warehouse fire was intentional arson, and appealed to insiders to provide clues.

In the statement, the New York police said that after the Bureau of Alcohol, Tobacco, Firearms and Explosives (referred to as ATF), alcohol, tobacco and firearms Bureau jointly launched a fire investigation on the distribution center of Gap Inc. Cape group in New York in August 29th, the special reaction team concluded that the fire was arson.

New York police and ATF will further investigate the fire.

On Monday, August 29th, at 11 o'clock in the evening, the fire broke out in the distribution center of Gap Inc. Cape group in Fishkill, New York. Fortunately, all the employees were evacuated without causing casualties. However, the material loss remains to be assessed, which adds more uncertainties to the gloomy prospect of the biggest US apparel franchised retailer with a huge profit margin.

Gap Inc. spokeswoman Debbie Felix revealed that the Fishkill distribution center was still closed, and the cause and overall impact of the fire took time to investigate and assess. At the same time, the group launched an emergency plan, which is continuing to serve customers with the entire North American distribution center network.

According to the group's data, it has a distribution network of over 8 million 600 thousand square feet in North America and England.

According to local media in New York, the fire broke out on the two floor of Building No. two, Fishkill distribution center, and then spread rapidly. The area of the building was about 990 thousand square feet. Firemen spent more than 5 hours to completely extinguish the fire.

At present, about 600 employees are in a state of downtime. Some employees expressed their desire to return to work as soon as possible and pay wages during the downtime.

The Fishkill distribution centre was launched in 2000. In 2014, the Gap Inc. Inc. group announced that it plans to invest $96 million to expand the centre and increase 1200 jobs in 5 years, when the centre employs about 425 employees.

Now the center is one of the largest employers of Dutchess County.

The Gap Inc. Cape group distribution center fire and ASOS PLC (ASC.L) Barnes Leigh occurred in the June 2014 distribution center fire broke out exactly the same.

The British electricity supplier's fire also came from the bad performance of the group. It also considered arson and caused a loss of 25 million pounds -3000 million for the British electricity supplier group.

4 months later, a 19 year old man was arrested on suspicion of being the protagonist of the arson case.

But after that, there was no news about the British media.

At present, the Gap Inc. Cape group is also in a precarious situation.

In the last two quarters, net sales of Gap Inc. & amp; Cape group fell 1.2% to $3 billion 851 million.

Overall same store sales fell by 2% year-on-year, a drop narrower than 5% in the first quarter.

Gap and Banana Republic, the Banana Republic, recorded a decline of 3% and 9% respectively, which has dropped 6 quarters, and the old Old Navy navy has only maintained the same level in the same period last year.

During the period, the Group recorded a net profit of 125 million US dollars, a sharp decrease of 42.9% compared with 209 million US dollars in the same period last year, and EPS declined from US $0.52 to US $0.31, and the negative impact of US dollar appreciation reached US $0.05.

The adjusted EPS is US $0.60 and the market is expected to be US $0.59.

The group is expected to reduce its annual EPS adjusted to $1.87-1.92 from 1.92 US dollars, far less than the $1.96 expected by the market.

Gap Inc., CEO of Art Peck, is unhappy with the improvement pace of the group in its earnings.

The group is promoting the Gap and Banana Republic Banana Republic by controlling inventory and accelerating the production cycle, hoping to replicate the success of the Old Navy Navy pformation.

As of July 30th, the total inventory value of group merchandise was 1 billion 951 million US dollars, down 2.7% from 2 billion 5 million US dollars in the same period last year.

At the beginning of this month, the latest monthly data released by Gap Inc. Cape group showed that the sales performance of Gap Inc. Inc. in August was still hard to see, even worse than market expectations.

In the first four weeks ended August 27th, the sales of Gap Inc. & amp; Cape group in the same store recorded a 3% decrease, which was 1.9% lower than the market expected.

In addition to the Gap cap brand, the Old Navy Old Navy and Banana Republic, the Banana Republic, have improved since July. The former increased from zero growth in July to 1%, while the latter decreased from 14% in July to 10%.

However, Gap

The weakness is beyond market expectations, with a 5% decline far below market expectations of 1.5% and an expansion of 4% over July.

The group chief financial officer, Sabrina Simmons, said in monthly reports that he was pleased with the continuous optimization of Old Navy's Old Navy. The group will continue to focus on improving the performance of all brands.

In August, the group's total sales amounted to 1 billion 170 million US dollars, a decrease of 2% compared with 1 billion 200 million US dollars in the same period last year.

The fire has deepened investors' concerns about the future of the American fast fashion group.

Bloomberg Intelligence analyst Poonam Goyal believes that the accident will definitely affect sales and will also exert greater pressure on performance.

Wells Fargo Fargo & Co. (NYSE:WFC) Wells Fargo Bank analyst Ike Boruchow, worried that the accident would form a bottleneck for the most important holiday season sales. In addition, the supply chain will also be affected by this. The cost of logistics, warehousing and distribution will be increased. Meanwhile, property losses and inventory impairment will also occur.

Gap Inc. has fallen 5% so far this year, far less than the increase of about 7% of the S & P 500 index, which has fallen more than 28% in the past 52 weeks.