(Boursier.com) — gap fell 13% last night, after trading on Wall Street. The US clothing retailer slashed its profit estimates, in turn a victim of record inflation and rising costs. For the 2022 financial year, the group now envisages an adjusted EPS ranging from 30 to 60 cents, against… $1.95 for the previous mid-range and $1.34 consensus. In the quarter ended at the end of April 2022, the group’s revenues also declined to 3.48 billion dollars, against 3.99 billion a year before and 3.46 billion consensus. The adjusted loss per share was 44 cents over the period, against -11 cents consensus and +48 cents a year earlier.
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