said October same-store sales fell 2% and indicated that it expects third-quarter earnings of 20 cents to 22 cents a share, a range below analysts' estimates.
According to a
First Call/Thomson Financial
survey, Wall Street expects Gap to earn 23 cents a share for the third quarter.
The company said sales totaled $1.07 billion for the four-week period ended Oct. 28, an increase of 19% from sales of $897 million for the same period a year ago.
Third-quarter same-store sales fell 8%. Total sales for the quarter rose 12% to $3.41 billion from $3.05 billion.