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Gap Misses Earnings Expectations, Suffers From Slowing Momentum

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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