Why Gap Shares Fell 50.9% in March
Shares of the Gap (NYSE: GPS) slid 50.9% in March, according to data provided by S&P Global Market Intelligence, after the company reported lackluster earnings and temporarily shuttered stores as the coronavirus outbreak deepened.
Gap reported a 1% decrease in fourth-quarter fiscal 2019 sales year over year, with three of its four brands reporting flat sales or a decline. Only Athleta saw a 2% increase in sales, but that still represents a slowdown from the 7% increase in the year-earlier period. The apparel retailer reported a diluted loss per share of $0.49 for the quarter.
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Source Fool.com
