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HP Details Company Split; Gap Struggles to Rekindle Brand Interest

5/22/15 7:36 AM EDT
World markets are mixed after a record close for the S&P500 as Hewlett Packard warns on its outlook and the Gap struggles to rekindle interest in its Gap and Banana Republic brands. Today we get a check on inflation at the consumer level, as well as earnings from Foot Locker and Campbell Soup. A reminder that the markets are closed Monday in observance of the Memorial Day holiday. Ahead of that, the US markets are trading near record levels. Hewlett Packard posted earnings after the bell Thursday. While its planning to split its company into two, management outlined details in the earnings conference call. One company will be called Hewlett Packard Enterprise and focus on selling servers geared towards the business customer. The other will be called HP Inc and focus on selling printers and PC's. However, all of this will be an expensive proposition for HP and that factor spurred the company to warn on its outlook for the year. The Gap has been hit by the stronger dollar, so profits were down in the latest quarter. However the retail giant is also working to rejigger interest in its Gap and Banana Republic brands, which have seen sales wane. It has, however, seen decent growth at its lower priced brand, Old Navy, which still appeals to the cost conscious consumer. The Gap is still confident in its prospects and stands by its profit outlook for 2015
Stocks in this video: HPQ,GPS
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