Gap (GPS) reports Q1 2022 earnings - CNBC

The lower-income consumer, which is Old Navy's target customer, is starting to feel pinched by inflation, Chief Executive Officer Sonia Syngal told CNBC.

Gap Inc. on Thursday slashed its profit guidance for the full year as it reported a decline in fiscal first-quarter sales, which were dragged down by its Old Navy business. Shares fell more than 10%… [+4170 chars]

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