Gap Falls After Profit Forecast Trails Analysts’ Estimates
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Gap Inc. fell the most in a month after the retailer forecast annual profit that was less than analysts estimated.
The shares slid 2.9 percent to $40.15 at 10:01 a.m. in New York after earlier dropping as much as 3 percent for the biggest intraday decline since April 15. The San Francisco-based company’s stock had gained 33 percent this year through yesterday, the most for an apparel company in the Standard & Poor’s 500 Retailing Index.