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00:02Gap reported first quarter earnings of 90 cents per share,
00:06beating the analyst estimate of 42 cents, according to Benzinga ProData.
00:11Quarterly revenue came in at $3.5 billion,
00:14missing the consensus estimate of $3.52 billion by 0.77%.
00:19Net sales rose 1% year over year, with comparable sales up 2% and store sales up 3%.
00:25Online sales fell 2% and represented 38% of total net sales.
00:31Gross margin of 40.5% declined 130 basis points versus last year.
00:37Gap lowered its fiscal 2026 revenue outlook to a range of $15.52 billion to $15.67 billion,
00:45down from $15.71 billion to $15.86 billion versus the $15.74 billion analyst estimate.
00:54Shares were down by 15.44% at $21.14 in Thursday's pre-market trading,
01:01according to Benzinga ProData.
01:03For all things money, visit Benzinga.com.
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