Gap Brand, Old Navy Post: The lowest sales in three years

Comparable sales declined at Old Navy for the first time in three years and the Gap brand recorded its largest decline since 2016, a poor performance for both channels before the planned dissolution.

Gap Inc.'s Executive Director, Art Peck, cited many reasons for these disappointing results, including adverse weather conditions, slower traffic in the stores, lower tax refunds for consumers and a decision postpone certain marketing operations until later in the year.

"We…