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.



Total same-store sales for the quarter were down 2%. By brand, same-store sales fell 6% at Gap global, 4% at Banana Republic global and, in a ongoing bright spot for the chain, up 3% at Old Navy global.



“We’re pleased that Old Navy delivered another consecutive quarter of growth, while we continued to make progress against previously announced strategic actions at Gap brand,” said Sabrina Simmons, CFO, Gap Inc.



The retailer has been downsizing the North America footprint of its core brand for the past couple of years. In June, it announced plans to close another 175 Gap stores in North America over the next several years, leaving about 800 open.



Gap is due to release its full second quarter results next week.