Microsoft (MSFT) wins Gap cloud business

Microsoft,Corporation (NASDAQ:MSFT)

Microsoft has signed a five year deal with major retailer Gap, that will make Microsoft Azure the company’s primary cloud provider. Microsoft’s cloud deal marks significant territory gained on competitors, as it won a big to provide cloud service to Walmart earlier this year as well.

CNBC provides details:

“What I hear from all these major retailers who are going through this transformation is they want to own their own data and they want a partner that is not going to be a competitor of theirs in any other part of their businesses,” said Shelley Bransten, Microsoft’s corporate vice president for global retail and consumer goods.

Gap will be utilizing Microsoft’s cloud service for e-commerce, work force systems, and inventory. The extent of the collaboration has yet to be revealed.

Microsoft, Corporation shares closed at $109.57 on Friday, down $-2.18 (-1.95%). Year-to-date, MSFT has gained 29.75%, versus a 5.45% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of B (Buy), and is ranked #11 of 68 stocks in the Software – Application category.