Friday, August 23, 2019

Gap same-store sales disappoint as Old Navy struggles

Yahoo Finance
Gap Inc posted quarterly same-store sales that fell short of analysts' estimates on Thursday, as Old Navy suffered its worst comparable sales figures in three years ahead of a planned spin-off of the brand.

Old Navy, which offers more affordable clothing and accessories, has been a bright spot for the company in the past. But quarterly same-store sales fell 5%, much worse than the 1.11% decline Wall Street expected, according to IBES data from Refinitiv. . . . more