The shares of the US clothing retailer, Gap, lost 24.12% this Wednesday, at $17.84 each, on Wall Street, a day after it presented a report of results for the third quarter of 2021 lower than expected by the analysts.

Gap reported a third-quarter net loss of $152 million as a result of supply chain issues. In the same period of the previous year, it obtained net income of 95 million dollars.

In the third quarter ended October 30, its net sales were $3.94 billion, down 1.3% from $3.99 billion in the same period of 2020 and 1.4% from $4.0 billion in the third quarter of 2019, the last third quarter before the company felt the impact of the pandemic.

Its Old Navy brand was affected by supply chain disruptions, especially in the women's offering. This sent the brand's comparable sales down 9% year-on-year, though it was up 6% compared to the third quarter of 2019.

For its part, Gap, its flagship brand, registered a 7% year-on-year increase in comparable sales and an increase of 3% compared to the third quarter of 2019, while Banana Republic saw its comparables grow 28% compared to the third quarter of 2020 and fell 10% compared to two years ago.

termometro.economico@eleconomista.mx