May 24, 2018 / 8:27 PM / 5 months ago

Gap misses first-quarter same-store sales estimates

May 24(Reuters) - Apparel retailer Gap Inc on Thursday reported first-quarter comparable store sales that missed estimates, hurt by a slump in demand for its namesake brand.

Overall same-store sales rose 1 percent in the three months ended May 5, while analysts were expecting a rise of 1.67 percent, according to Thomson Reuters I/B/E/S.

The company's net income rose to $164 million, or 42 cents per share, in the reported quarter from $143 million, or 36 cents per share, a year earlier.

Total revenue rose to $3.78 billion from $3.44 billion. (Reporting by Uday Sampath and Nivedita Balu in Bengaluru; Editing by Anil D'Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below