Gap Brand's Sales Declines Keep Getting Worse
The fashion retailer reported another quarter of weak sales at its namesake brand, suggesting Gap’s turnaround could take longer than expected. For many Americans, Gap's namesake stores were once a go-to shopping destination for T-shirts and jeans, but now the Gap brand is in a deep funk that only seems to be worsening because of fashion miscues and nimble rivals that have eaten into its business. On Monday, Gap’s parent company provided the latest evidence of the chain’s struggles by reporting that comparable sales fell 10 percent last quarter. It was the fifth straight quarterly decline, and the worst performance since late 2011.