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Gap shares tank after company warns Trump's tariffs could squeeze profit by $150M
GPSGap(GPS) New York Post·2025-05-30 16:15

Gap shares tanked Friday after the retailer warned that President Trump’s tariffs could take a 150millionbiteoutofitsbottomlinein2025.TheSanFrancisco−basedcompany—whichownsBananaRepublic,OldNavyandAtheleta—reportedfirst−quarterearningsThursdaythatbeatWallStreet’sexpectations,butnotedthattariffsarealoomingthreattoitsprofitmargin.Gap’ssharesplunged20150 million bite out of its bottom line in 2025.The San Francisco-based company — which owns Banana Republic, Old Navy and Atheleta — reported first-quarter earnings Thursday that beat Wall Street’s expectations, but noted that tariffs are a looming threat to its profit margin.Gap’s shares plunged 20%, to 22,40, as of 11:45 a.m. ET Friday. 3 Shares of Gap, which also owns Old Navy, plunged on Friday. AFP via G ...