Gap (NYSE: GPS) posted its second-quarter earnings report on Aug. 25. The apparel retailer's revenue declined 8% year over year to $3.86 billion, but still cleared Wall Street's estimates by $40 million.
Its comparable store sales fell 10%, as its 8% comps growth at Banana Republic failed to offset a 15% drop at Old Navy, a 7% decline at Gap, and an 8% slump at Athleta. Its adjusted net income tumbled 89% to $30 million, or $0.08 per share, but still beat the consensus forecast by a dime.
Image source: Getty Images.
Source Fool.com