Sales Gap at the Gap

It was a dismal December for retailers, but nowhere was the sales pain more acute than at Gap and Old Navy

Ah, those balmy days of December. It wasn't exactly the greatest weather for holiday shopping or winter clothes, and the tepid monthly sales reports released Jan. 4 bore out many retailers' fears for a mediocre season. Deep discounting and consumers who waited to shop until nearly Christmas Day didn't much help, either.

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