SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Gap Inc. (GPS) on Thursday reported a loss of $18 million in its fiscal first quarter.
The San Francisco-based company said it had a loss of 5 cents per share. Earnings, adjusted for one-time gains and costs, came to 1 cent per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The clothing chain posted revenue of $3.28 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $3.29 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GPS at https://www.zacks.com/ap/GPS
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