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Gap Shares Plunge As September Same-Store Sales Fall

By Warren Paige

Just like any other retailer, The Gap Inc. (NYSE: GPS) also saw its sales falling in September. Economic uncertainty caused by the policy impasse in Washington prompted consumers to spend money frugally. Gap said on Thursday that September same-store-sales fell 3% while analysts had expected a gain of 1.6%, according to a data compiled by Thomson Reuters. Sales at Banana Republic stores declined 5%; it dipped 3% at GAP stores while it slipped 2% at Old Navy stores. Shares were down nearly 7% by mid-day trade.

October 11th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.