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No sign of any turnaround for the Gap
The turnaround at Gap Inc. is still struggling to get off the ground, if the retailers' latest round of financial results are any indication.
Gap reported that net sales for the four-week period ended Aug. 1 were $1.12 billion compared with net sales of $1.17 billion for the four-week period ended Aug. 2, 2014. For the second quarter of fiscal 2015, Gap Inc.’s net sales decreased 2% to $3.90 billion compared with $3.98 billion for the second quarter last year.
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Gap second quarter looking lackuster
San Francisco -- Gap Inc. is still searching for its turnaround.
Gap Inc. issued a second-quarter earnings forecast that was below Wall Street analysts' estimates, with its results impacted by foreign currency fluctuations, West Coast port delays and previously announced store closings in its namesake brand.
Gap reported less-than-expected total sales of $3.9 billion for the second quarter, down 2% from the $3.98 billion the year-ago period.

