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Historic winter storms weigh on Gap, Old Navy performance after 800 temporary store closures - CNBC
Overview
Historic winter storms across the East Coast forced roughly 800 temporary store closures and weighed on Gap Inc.'s holiday-quarter performance, producing worse-than-expected results for brands including Gap and Old Navy. The retailer had been on a steady growth upswing before the storms, but lost sales and foot traffic during a key shopping period. The weather disruption that impacted millions and critical infrastructure directly cut into the company's holiday results.
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