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Old Navy Q1 sales stabilize struggling Gap

May 22, 2017

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Gap Inc.’s first quarter financial report Thursday showed that the struggling apparel company is still in the game: Q1 net sales were $3.4 billion, about flat to the year-ago quarter as they were hit by some $11 million in currency fluctuations. Diluted earnings were $143 million or 36 cents per share, up from $127 million or 32 cents per share in the year-ago quarter. The results bested FactSet analysts expectations cited by MarketWatch of 29 cents per share on revenue of $3.39 billion.

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