Tags: quarterly | profit | Gap | Banana Republic

Gap Quarterly Profit Falls 22 Percent

Thursday, 22 May 2014 04:12 PM

Gap Inc. reported a 22 percent fall in quarterly profit, hurt by weak demand for its Gap and Banana Republic apparel brands.

Net income fell to $260 million, or 58 cents per share, for the first quarter ended May 3, from $333 million, or 71 cents per share, a year earlier.

The company had estimated a profit of 56-57 cents per share when it pre-announced results on May 8.

Net sales rose 1.2 percent to $3.77 billion, but comparable-store sales fell 1 percent, Gap said on Thursday.

© 2017 Thomson/Reuters. All rights reserved.

 
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Gap Inc. reported a 22 percent fall in quarterly profit, hurt by weak demand for its Gap and Banana Republic apparel brands.
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2014-12-22
Thursday, 22 May 2014 04:12 PM
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