Shares of Gap Inc. plummeted Friday, the day after the retailer reported a decline in its holiday season sales, including at stalwart brand Old Navy.
Its stock sank $3.83, or more than 14%, to close at $22.91 — its lowest price in almost four years. The San Francisco company is having a rough stretch: Shares are down nearly 47% from a year ago.
Net sales for the company decreased 4% to $2 billion in the five-week period that ended Jan. 2.
Sales were down across the company's brands.
Gap Brand Global was down 2% from a year earlier -- not as sharp a decline as it experienced during the 2014 holiday season,...