Quarterly Sales Flat at Gap

October's same-store sales fall 7%.
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Gap

(GPS) - Get Report

said its third-quarter total sales were unchanged from last year at $3.86 billion, while same-store sales fell 5%.

Earnings for the quarter will likely be 21 cents to 23 cents a share, Gap said Thursday. On average, analysts surveyed by Thomson Financial are looking for a profit of 23 cents. The revenue estimate for the third quarter matches Wall Street's consensus target.

The announcements came as Gap reported net sales of $1.25 billion for the four-week period ended Oct. 28, a 3% decline from last year. Comparable-store sales for the month slid 7%.