Gap and American Eagle shares fall after earnings reports
Both retailers posted double-digit stock declines following their latest quarterly results. Executives at each company said the broader economy is not the cause of weaker performance.
MarketWatchGap and American Eagle Outfitters each reported quarterly results that triggered double-digit percentage drops in their share prices. Executives at both companies stated that current economic conditions are not responsible for the results.
Stock reaction Gap shares fell more than 10 percent on the day of the earnings release. American Eagle Outfitters shares also declined by a double-digit percentage.
Company statements Company officials said internal factors, rather than macroeconomic conditions, explain the performance. No specific economic indicators were cited by either retailer as problematic.
Key Facts
Story Timeline
3 events- Earnings release day
Gap and American Eagle Outfitters reported quarterly results.
1 sourceMarketWatch - Same day
Both companies' shares fell by double-digit percentages.
1 sourceMarketWatch - Same day
Executives at each retailer said the economy is not to blame.
1 sourceMarketWatch
Potential Impact
- 01
Investors may review company-specific factors in future reports.
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