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Gap Misses Earnings Expectations, Suffers From Slowing Momentum

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Though sales and earnings were up in the Gap Inc.’s first quarter, missteps at the Gap brand and slowing momentum for Old Navy disappointed. In a Nutshell: TheGap brand weighed on gross margin in the first quarter, which was largely due to missed delivery schedules and over-assortment. While the company has addressed these issues, it…

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