Sales of US retailer Gap fell in the third quarter by 7%

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In the third quarter, comparable sales of US retailer Gap in stores operating for at least a year decreased by 7%. Experts had predicted a less significant drop - by 4%. The growth in sales of the Old Navy brand by 4% also did not reach the forecasts of economists, who had expected a rise of 4.65%. At the same time, quarterly profit, excluding one-time balance items, in the amount of 69 cents per share was 1 cent higher than experts' forecasts. Net sales for the quarter amounted to 4 billion 90 million dollars, an increase of 6.5%. Analysts had predicted a figure of 4 billion dollars.

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