Gap posts mixed Q2 results, comp. sales miss (Video)

we've got some Breaking News Gap is that with its earnings report you're looking at losses of just about two percent in extended trading another week report here from Gap sales declines across all four of its Brands overall though Revenue coming in just below the streets expectations 3.55 billion estimate was for 3.57 billion inventory might be the uh silver lining in this report they just see bigger than expected declines as they look to get a better handle on their inventory that was off 29 on the year-over-year basis but Akiko when you take a look at these brand declines here for sales Old Navy sales they're dropping six percent from a year ago Gap com sales also in the red Banana Republic off 8 Athleta which Gap had really been relying on for some time now declining sales once again here for this quarter for Athleta off just about seven percent there's a new CEO at the helm of Gap the pressure is on and we'll hear uh from him on the earnings call later on tonight in just about a half an hour from now but still the reaction in shares off over one and a half percent there certainly are still some questions some concerns when it comes to Gap at least in the short term yeah Sean I was going to say this is a company that has really struggled to find its footing but I imagine that call uh in uh earnings call in shortly will will really be about where this company is headed to your point that new CEO coming in from Mattel a lot of expectations writing that especially given the success that he saw around the Barbie movie so it's gonna be interesting to see where that strategy is moving forward there's a number of turnarounds in there with so many of those Brands struggling as you mentioned but um imagine most of this is going to be really very forward-looking to see where this company is headed after the struggles they have faced over the last several years with that stock down yet again on the back of those results yeah just over one percent