Gap lowered its full-year forecast of earnings per share to a range of
between $1.08 and $1.12. In May, the company predicted that full-year
earnings would range between $1.23 and $1.27. Analysts, on average, expect
full-year earnings per share of $1.11, excluding one-time items, according
to Reuters Estimates.
It looks like they can't get a good fashion mix and are trying to compete with Target and Wal-Mart in the casual apparel space. That is not a good receipt for success since those Big Box guys can undercut them like crazy. I have no idea what Gap could do better but they need to do something soon or they will be at the back of the apparel pack.
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