Gap Profit Off, Sees More Store Closings
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Gap Inc. (GPS.N: Quote, Profile, Research) , the largest US specialty apparel retailer, on Thursday reported a slight decline in quarterly profit, meeting lowered forecasts, after summer clearance sales drew surprisingly small crowds.
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The retailer lowers its outlook after same-store sales fall.
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Kroger Co. , the largest US grocer, on Tuesday reported a lower quarterly profit, hurt by debt costs even as sales rebounded in Southern California where it was hit by a strike.
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Sears, Roebuck and Co. on Thursday  said quarterly profit fell sharply compared with a year  earlier, when the department store operator had a gain from the  sale of its credit card business, but the profit topped  forecasts as the retailer slashed costs.
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Retailer Home Depot Inc.  said on Wednesday it expects per-share profit to fall this year as the U.S. housing slump hurts sales and it increases spending on its stores.
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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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Lately, the company's retail operation has been lagging behind sales of its locations.
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The apparel retailer reports higher sales and profits but lower comps.
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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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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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NEW YORK, Aug 18  - Dillard&#39;s Inc. (DDS.N: Quote, Profile, Research) on Wednesday reported a narrower quarterly loss even after it cut costs, but a drop in same-store sales caused the latest results to miss Wall Street&#39;s estimates by a wide ...
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Why are the deep-discount retailers winning sales but losing earnings?
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Dollar General Corp. said Wednesday that its third-quarter profits dropped nearly 9 percent amid high gas prices and reduced spending by its core, low-income customers. The discount retailer also lowered its forecast for the rest of the year.
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The clothing retailer's profits take a hit on weather woes and bigger-than-expected markdowns
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Gap Inc. GPS.N said on Thursday its   sales at stores open at least a year fell 7 percent, below   analyst forecasts, in August as results at its Gap and Old Navy   clothing chains continued to suffer.
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General Mills Inc. GIS.N on  Tuesday reported a steeper-than-expected drop in quarterly net  income due to higher food ingredient costs and stepped-up  spending on promotions.
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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.