Old Navy comparable sales grew just 1% in the first quarter, well below the 3% analysts had expected

Gap issued mixed results as sales at its largest brand, Old Navy, fell short of estimates.

Here's a look at why Gap stock crashed after Q1 earnings.

Old Navy comparable sales grew just 1% in the first quarter, well below the 3% analysts had expected

Gap Inc (NYSE: GAP) shares are dipping Friday after a mixed first‑quarter update and a cut to its full‑year sales outlook.