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05 March
This Gap brand continues to be an underperformer, and it is dragging the retailer’s stock
People walk by Old Navy and Gap retail stores in Times Square, New York City.
Old Navy and Gap stores in New York City. Sales at Athleta, Gap’s smallest brand, continued to lag. Photo: AFP via Getty Images

Gap shares dropped by as much as 10% in the extended session Thursday after sales at Athleta, its smallest brand by revenue and least successful, lagged and the retailer’s outlook for the year failed to excite investors.

Executives sought to reassure Wall Street that Gap’s GAP turnaround efforts are taking root, however, pointing at the company’s eighth-straight quarter of same-store sales growth.

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