Gap February Comp Sales Down 7%

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March 6 (Bloomberg) -- Bloomberg's Julie Hyman reports on Gap's February retail sales. She speaks on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Down seven percent.

Analysts were still looking for a gain of 1.1%, even given all the terrible news we have gotten from retailers.

Over 450 stores had closures during the month of february because of -- stayed with me -- the weather.

Gap sales down 10%. old navy down six percent.

In an republic down seven percent.

You can talk about apparel as one of these areas where a lot of people like to try stuff on, but if you cannot go to a store because the weather is preventing you, you will buy it online or maybe i from somewhere else.

Shares are down about four percent.

Initially, they dropped as much as six percent, but are coming back.

There are some scary long-term secular trends.

Sears is having a hard time, as well as jcpenney.

But they were bad to begin with.

But these are places you going to try on clothing.

The weaker retailers in this environment are just going to get weaker.

And the wolves -- and those that are stronger are still struggling to some extent.

Everyone is competing on price.

Even walmart has to compete.

Are you ready for this one?

Googled's eric schmitzdt said

This text has been automatically generated. It may not be 100% accurate.


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