Gap Inc (GPS) Stock Drops After Company Reports Big Fall In Old Navy Sales, As Banana Republic Continues To Struggle

Gap Inc. shares were lower Tuesday after the U.S. apparel retailer reported lower year-over-year sales, but said its fiscal fourth quarter earnings would be higher than current estimates. Grim quarterly sales numbers suggest the problems facing the company’s Gap and Banana Republic outlets might be spreading to Old Navy, which had performed well through most of last year.

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