(Reuters) – Gap Inc missed Wall Street estimates for quarterly sales on Thursday, hit by softness in demand as budget-strained American customers cut back their spending on accessories and apparel.
The company’s net sales fell to $3.55 billion in the second quarter from $3.86 billion a year earlier. Analysts on average had estimated sales of $3.57 billion, according to Refinitiv data.
(Reporting by Ananya Mariam Rajesh in Bengaluru and Kate Masters in New York; Editing by Krishna Chandra Eluri)
