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Actionable news in GPS: THE GAP Inc,

Gap's Stock Tumbles in After-hours Trading


Shares in Gap (GPS - Get Report) tumbled Monday after hours after the retailer reported its same-store sales for April and previewed its first-quarter results.

The company said same-store sales were down 7% for the four weeks ended April 30, while comparable sales were down 5% for all of the first quarter, ended April 30. Gap also said net sales or revenue declined to $1.12 billion from $1.21 billion last April. For the entire first quarter, Gap revealed revenue was $3.44 billion, compared with $3.66 billion for the same period in 2015.

The retailer's shares plummeted $2.79, or 12.8%, to $19.02 on Monday evening.

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