Shares of Gap Inc (GPS) intially dropped more than 5% on Friday after the company reported first-quarter earnings and cut its full-year profit guidance.
Telsey Advisory Group analyst Dana Telsey said Gap has made tremendous progress in optimizing and streamlining its business in recent years, but the first-quarter numbers are a clear sign of just how much work must still be done to get all of Gap’s brands firing at the same time.
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