Shares of Gap Slide on Worse-than-Expected March Same-Store Sales
Gap announced after the close on Thursday that its comparable sales for March fell 6% -- worse than analyst expectations for a drop of 4.7%, according to Thomson Reuters.
Shares of Gap are sinking on Friday after the retailer reported worse-than-expected same-store sales for March. Gap announced after the close on Thursday that its comparable sales for March fell 6% -- worse than analyst expectations for a drop of 4.7%, according to Thomson Reuters. Gap blamed the bad winter weather and the later occurrence of the Easter holiday in April this year, from March last year, as reasons for the weaker sales. Still, the company reaffirmed its full-year forecast.
