Gap falls after its annual forecast lags Street
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Shares of Gap Inc. fell as  much as 4.9 percent on Friday, a day after the apparel company  reported a lower quarterly profit and said 2007 would be a  transition year with earnings well short of Wall Street  expectations.
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Growth in the final quarter of 2007 slowed to half the pace Wall Street was expecting, new figures show
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There's not too much surprising about Gap's first quarter.
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Streeters are getting a little less than they did in the past.
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Property prices are falling at rates not seen since the 1990s housing recession, surveyors warn.
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A gauge of US manufacturing fell this month to the lowest in more than a year, incomes lagged spending in September and home construction declined in the final economic reports before tomorrow&#39;s presidential election.
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Top forecasters cut their outlooks  for U.S. growth this year and next but said inflation seems to  be leveling off and consumer spending should strengthen in the  months ahead, a survey out on Friday showed.
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A measure of the economy's future direction fell more than forecast in June, pulled down by the worst housing slump in 16 years.
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Latest data points to sluggish growth while bond investors fear inflation.
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The economy inched ahead by 2.2 percent in the fourth quarter of last year, down sharply from the governmentâs prior estimate of 3.5 percent.
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Business & money: Housing market slows as mortgage approvals fall.
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Shares of Gap Inc.  fell 2 percent on Friday morning as analysts questioned what's next for the casual clothing retailer after a two-year turnaround.
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London equities fell in opening trade on Wednesday, after Northern Rock&#39;&#39;s latest guidance on full year profit growth dipped below analysts&#39; forecasts, adding to concern about a slowing housing market.
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The gap between how much the US exports and imports has narrowed to its lowest level in more than a year.
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Property prices in the UK are falling to an extent not seen since the 1990s housing recession, warn surveyors.
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Struggling apparel giant Gap Inc. said on Thursday that fourth-quarter net profit fell 35 percent on lower or flat sales at its two main casual clothing chains and dependence on holiday season discounts.
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Gap Inc.'s fourth-quarter profit fell 35 percent in a gloomy performance that triggered a recent management purge and doomed the slumping retailer's newest chain. The San Francisco-based company said late Thursday that it earned $219 million, or 27 cents per share, for the 14 weeks ended Feb. 3. That compared with net income of $337 million, or 39 cents per share, at the same time in the previous year.