Gap's first-quarter net sales reached $3.5 billion, while analysts expected $3.52 billion.
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Full-year net sales are expected to increase by 1%-2%, while the company had previously anticipated growth of 2%-3%. Full-year adjusted earnings per share (EPS) are projected to be approximately $2.30-$2.40, compared to the company's previous estimate of around $2.20-$2.35. After-market trading for the US-listed shares of a certain exchange fell by 9.8%.
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