2023-07-24 11:19:39 ET
Gap ( NYSE: GPS ) rallied 3.95% on Monday after the mall retailer's collaboration with the Barbie brand was viewed by investors as a potential winner in the back half of the year and into the holiday season.
Of high interest to Gap ( GPS ) shareholders, Barbie took in $155M in the U.S. box office to mark the biggest domestic opening of the year. The film about Mattel's ( MAT ) iconic toy doll took in another $182M from 70 global markets for a total weekend haul of $337M. The film's debut attracted a large amount of Barbie-styled outfits by moviegoers.
Earlier this year, the Gap x Barbie collection of tees, skirts, logo hoodies, denim, button-downs and accessories was released. The collection even includes pet apparel. The items, which will feature Barbie branding and Gap’s signature arch typeface, are available online and in select Gap stores globally. Mattel ( MAT ) will sell some styles via Mattel Creations, its collector and direct-to-consumer platform.
Gap ( GPS ) is not scheduled to report earnings until late in August. The retailer could update on Barbie demand during its earnings conference call.
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Gap rallies after Barbie dazzles at the box office