Gap reports mixed Q1 results with EPS miss and lowered full-year sales forecast due to Old Navy slowdown.

Gap reported Q1 earnings per share of $0.38, slightly missing analyst expectations of $0.39 and down from $0.51 a year ago. Quarterly revenue was $3.5 billion, a 1% increase year-over-year but just below the $3.52 billion consensus. The company lowered its full-year sales growth forecast to 1-2%, citing slower performance at its Old Navy brand. These results reflect ongoing challenges in the apparel retail sector and suggest cautious outlook for Gap's near-term growth.