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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Gap Inc | NYSE:GPS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.17 | 5.79% | 21.39 | 21.36 | 20.06 | 20.19 | 8,786,181 | 00:42:33 |
From Apr 2019 to Apr 2024
Gap Inc., reported same-store sales fell again in November, hurt by a recent warehouse fire as well as weakness in its namesake and Old Navy clothing lines.
Chief Financial Officer Sabrina Simmons said while November traffic trends "remained challenging," performance improved in the back half of the month and the company is focused on the holiday season.
During the month, the retailer's total same-store sales fell 1%, reflecting a negative effect of about 3 percentage points from the August fire at its Fishkill, N.Y., distribution center. Gap said the majority of the fire-related negative impact to comparable sales during the fourth quarter happened in November.
Same-store sales fell at its Gap and Old Navy brands, 3% and 2%, respectively, and rose 5% at Banana Republic.
Overall revenue fell 2.5% to $1.53 billion.
Gap shares, up 2% over the past three months, slipped 1% after hours to $24.80.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
December 01, 2016 17:25 ET (22:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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