Gap Blames Fire At Distribution Center For Weak Same-store Sales

By Markets MarketWatch Pulse

Gap Inc.'s same-store sales fell 1% in October, hurt by a fire at its distribution center in Fishkill, New York, the retailer said Monday. The clothing company also projected its third-quarter earnings per share in the range of 50 cents to 51 cents and adjusted EPS at 59 cents to 60 cents. Analysts surveyed by FactSet are projecting an average of 53 cents a share. Gap's stock edged up 0.1% after hours.

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