Gap shares continue to fall as analyst slashes estimates. (Gap Inc. stock price declines in response to lower earnings forecast by analyst Robert Buchanan) (Brief Article)

Daily News Record, September, 1994

NEW YORK (FNS) -- Shares of Gap, Inc., continued to slide Tuesday after NatWest Securities analyst Robert Buchanan forecast weak September sales and cut his earnings estimates for the year.

The stock closed at 31 1/8, down 1, Monday on the New York Stock Exchange. On Aug. 31, just prior to the Sept. 1 report on monthly sales, the stock was at 43. Since then it has dropped 27 percent.

"September looks like another weak month for profits and sales," said Buchanan, although he projects same-store sales for September might be a little better than the 5 percent decline reported for August. In addition, "given how slow business is the company is probably getting hit on margins."

For the fiscal third quarter ending Oct. 30, Buchanan cut his...

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