May 30, 2019
(Reuters) – Gap Inc cut its full-year earnings forecast on Thursday, after the apparel maker reported a decline in first-quarter sales across its major brands.
The San Francisco-based company cut its adjusted earnings forecast to $2.05 to $2.15 per share, from a previous range of $2.40 to $2.55.
“This quarter was extremely challenging,” Chief Executive Officer Art Peck said about the company’s first-quarter results.
(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)