Gap Inc

The Old Navy apparel chain's program during Gap Inc.'s company meeting Thursday included a canine and a salute to cargo shorts--but there was some substance behind the annual dog-and-pony show. Using a mock talk-show format at Gap's annual employee meeting, Old Navy's executives informed their 3,000 Bay Area staff that their chain had exceeded the retailing milestone of $1 billion in annual sales in 1997.

Most Gap customers haven't a clue who Pina Ferlisi is. Hollywood's new It Girl? An Italian tennis star? The math geek in algebra class? None of the above.

Gap Inc. had a fiscal third-quarter loss, its first quarterly loss in more than a decade, as the largest U.S. clothing chain slashed prices to get rid of slow-selling fall clothing.

Gap Inc., the largest U.S. clothing chain, said that sales at stores open at least a year fell 11% in March--more than double forecasts--as same-store sales dropped at its U.

Shares of Gap Inc. fell 4% on concerns that a slowing economy could limit sales gains in the second half of the year at the third-largest U.S. clothing chain.

Retail giant Gap Inc. may be about to go out of fashion again on Wall Street. The San Francisco-based clothing retailer said late Wednesday that fiscal second-quarter earnings missed already lowered forecasts because of weaker-than-expected July sales.