Gap Inc. said on Thursday that sales at stores open at least a year decreased 8 percent in October. Analysts on average had been expecting the San Francisco-based global clothing retailer to post a same-stores sales decrease of 4.5 percent, according to Reuters Estimates. Gap, which also runs the Banana Republic and Old Navy chains, said net sales for the four weeks ended Nov. 3 fell 1 percent to $1.23 billion. Looking ahead, the retailer said it sees third-quarter earnings ranging between 28 cents and 30 cents a share. Analysts, on average, are expecting Gap to earn 22 cents a share for the third-quarter, according to Reuters Estimates.
Gap Inc. keeps a close eye on all their earnings to know what they can and are willing to expect for the coming years.
Gap Inc. keeps a close eye on all their earnings to know what they can and are willing to expect for the coming years.
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