Retail News

Gap Inc. reports lower same-store sales

The Wall Street Journal 05/30/2019

Gap Inc. reported the biggest decline in same-stores since 2016 as the company’s normally strong Old Navy banner saw comps fall one percent in the most recent quarter. The company’s shares fell 12 percent in after-hours trading. Gap Inc. CEO Art Peck said the retailer experienced slower traffic, partly due to poor weather conditions, and also failed to execute in a number of areas, as well.

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