June 4, 2020 / 8:26 PM / a month ago

Gap's quarterly sales plunge 43% on coronavirus hit

June 4 (Reuters) - Gap Inc on Thursday reported a 43% fall in first-quarter sales, as the apparel retailer was forced to close its stores due to the COVID-19 pandemic.

Net loss came in at $932 million, or $2.51 per share, for the three months ended May 2, compared with a profit of $227 million, or 60 cents per share, a year earlier.

Net sales fell to $2.11 billion from $3.71 billion. (Reporting by Nivedita Balu in Bengaluru; Editing by Amy Caren Daniel)

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