![Banana Republic drags down Gap results Banana Republic drags down Gap results](https://ukinvestormagazine.co.uk/wp-content/uploads/2016/08/shutterstock_164791094-768x512.jpg)
American clothing retailer Gap saw earnings come in below analysts’ estimates as it fails to revive Banana Republic’s flagging image.
Its Banana Republic line has consistently seen poor sales, which have now fallen again for the sixth straight quarter, despite Gap working on turning its image around.
The company’s net income fell to $125 million in the second quarter, down from from $219 million a year earlier. Net sales remained at $3.85 billion, the same figure as was provided last week.
However, shares in Gap rose on Friday after the news, up 1.65 percent to 25.88 (1151GMT).
19/08/2016