Gap Inc. (NYSE: GAP) delivered a mixed first-quarter report Thursday after the bell, slightly missing Wall Street's earnings and revenue expectations for the second consecutive quarter while lowering its full-year sales outlook due to weaker-than-expected performance at its Old Navy brand.
Although the company, which is in the midst of a multiyear turnaround, raised its full-year earnings guidance, investors seemed more concerned about the slowing top-line growth, sending shares down about 17% following the report.
