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Gap sales at established stores slide 8pc in Nov

Gap’s struggles continued in November, with sales at established stores sliding a worse-than-expected 8 percent.

Analysts surveyed by Thomson Reuters had expected a 6.3 percent decline in sales at stores opened at least a year. The metric is a key measure of a retailer’s health because it strips out the impact of stores that have recently opened or closed.

Gap Inc. said November sales at established stores fell 4 percent at its namesake stores, 19 percent at its Banana Republic chain and 9 percent at Old Navy locations.

(Source: CNBC)