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Gap issues lacklustre outlook

Gap Inc is issuing a second quarter earnings forecast that’s below Wall Street analysts’ estimates. The company blamed West Coast port delays, foreign currency fluctuations and strategic manoeuvres the San Francisco-based company is taking to turn around its namesake brand. The earnings outlook, announced late on Monday, comes as the retailer, which also operates Old Navy and Banana Republic, posted a three per cent drop for a key revenue measure for July. Analysts expected a 2.3 per