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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A leading retail trade group predicted yesterday that holiday sales growth will lag behind last year's in an early forecast that set a tepid tone for the most important shopping season of the year.
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Sudden year-end slowdown is to blame, researcher says.
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NEW YORK -- The traditional excuse for disappointing retail sales in February -- cold weather -- might not be enough to explain sluggish results posted by US merchants from Gap Inc. to AnnTaylor Corp. Unappealing fashions may also have something to do with it.
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The economy limped ahead at just a 0.7 percent pace in the first quarter, the slowest in more than four years. Some businesses clamped down on spending, given the uncertainties about the severity of the housing slump.
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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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London equities lost ground after the release of worse-than-expected US employment data.
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There are now "clearer signs" that demand in the housing market has slowed, according to the Nationwide.
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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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U.S. stock futures fell on Thursday   after a report showed revised second-quarter U.S. gross   domestic product below expectations, renewing concerns about   economic growth.
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Gap Inc.  said on Thursday its  sales at stores open at least a year fell 8 percent in  November, below analysts' average forecast, as fewer customers  visited its stores even during the kick-off to the busy holiday  season.
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Gap Inc.  said on Thursday its sales at stores open at least a year fell 8 percent in November, below analysts' average forecast, as fewer customers visited its stores even during the kick-off to the busy holiday season.
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UK High Street spending growth slows in August, partly hit by wet weather, a British Retail Consortium survey finds.
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Business & money: Leading stores forecast shortfall in year's profits after shoppers cut back on festive spending
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Same-store sales for the month come in short of the company's forecast.
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The U.S. economy will slow sharply this year and fall behind growth rates in most of the world, according to forecasts in a U.N. report released Wednesday.
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A raft of bearish data fuelled fears of a US economic slowdown on Tuesday as consumer confidence slumped to a two-year low and house prices in major cities suffered the biggest drop in 16 years.