Gap's stock price fell 16% in pre-market trading, after the company predicted that the impact of tariffs could be as high as $300 million and revealed weak performance of its Banana Republic and Asati brands. Gap warned that tariffs would cause losses of 250 million to 300 million US dollars, but kept the performance guidelines unchanged, and said that strategies were in place to offset more than half of the costs. Despite tariff issues, the revenue of the Old Navy and Gap brands increased by 3% and 5%, respectively. Sales performance of jeans and sportswear was outstanding, while Banana Republic and Assad faced a decline in revenue.

Gap's stock price fell 16% in pre-market trading, after the company predicted that the impact of tariffs could be as high as $300 million and revealed weak performance of its Banana Republic and Asati brands. Gap warned that tariffs would cause losses of 250 million to 300 million US dollars, but kept the performance guidelines unchanged, and said that strategies were in place to offset more than half of the costs. Despite tariff issues, the revenue of the Old Navy and Gap brands increased by 3% and 5%, respectively. Sales performance of jeans and sportswear was outstanding, while Banana Republic and Assad faced a decline in revenue.