Gap revenue decreases 43.1 percent for Q1

Gap reported its net loss for Q1 decreased on Thursday. Compared with the same period last year, revenues also decreased by 43.1 percent.

For Q1, the company's net profit was -932 million dollars, slipped from 227 million dollars last year. Revenues dropped to 2,107 million dollars. The profit margin of the company slipped to -44 percent compared to 6 percent a year ago.

The Gap (NYSE: GPS) is an American clothing and accessories retailer. It was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company also owns Banana Republic, Old Navy, Intermix and Athleta. Gap Inc. is the largest specialty retailer in the United States and with 3,723 stores worldwide it is 3rd in total international locations, behind Inditex Group and H&M.

As of 2,020, Gap has more than 129,000 employees and operates over 3,300 stores.

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