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Benzinga
Benzinga
Business
Adam Eckert

After Hours Action: Why Gap Shares Are Falling

Gap Inc (NYSE:GPS) shares are trading lower in Thursday's after-hours session after the company reported worse-than-expected earnings results and issued guidance below analyst estimates.

Gap said first-quarter revenue declined 13% year-over-year to $3.48 billion, which beat the estimate of $3.46 billion, according to data from Benzinga Pro. The company reported a quarterly loss of 44 cents per share, which missed the estimate for a loss of 13 cents per share. 

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