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Gap Stalls Earnings on Weak Sales

Gap Inc. (NYSE: GPS) released its third-quarter earnings report after the markets closed on Thursday. The company had $0.63 in earnings per share (EPS) on $3.86 billion in revenue, versus consensus estimates from Thomson Reuters that called for $0.63 in EPS on revenue of $3.90 billion. In the same period of the previous year, the retailer posted EPS of $0.80 and $3.97 billion in revenue.

Comparable sales for the third quarter were down 2%, versus a 2% decrease last year. Comparable sales by global brand for the quarter were as follows: Gap Global negative 4%, versus negative 5% last year; Banana Republic Global negative 12%, versus flat last...