11:08 am Gap Struggles Persist in First Quarter
Apparel retailer Gap, Inc. (GPS 38.03, -0.53) is finding it difficult to find favor with investors these days. The release of its first quarter results, which came after Thursday's close, was just a formality considering Gap issued a first quarter warning on May 12 while highlighting the disappointing sales performance at its core Gap brand and Banana Republic unit. In other words, investors already knew what they'd be hearing and yet shares of GPS have still traded lower after the report.
Briefly, Gap reported diluted …More