SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Gap Inc. (GAP) on Thursday reported fiscal first-quarter earnings of $339 million.
The San Francisco-based company said it had profit of 90 cents per share. Earnings, adjusted for non-recurring gains, came to 38 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The clothing chain posted revenue of $3.5 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.53 billion.
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