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Gap's 1Q profit down 8 percent on currency fluctuations

2015-05-22 02:41:01| Apparel - Topix.net

Gap Inc. reported an 8 percent decline in its first-quarter profit, as results were hurt by currency fluctuations and persistent sluggish sales at its Gap and Banana Republic stores. Gap is among the companies struggling with the impact of the strong dollar as sales in foreign currencies are worth less once they are translated back into the U.S dollars.

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Category:Consumer Goods and Services

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