From Gap's (GPS) Q1 report: FY2011 performance will be "heavily impacted by pressure from...

|By:, SA News Editor

From Gap's (GPS) Q1 report: FY2011 performance will be "heavily impacted by pressure from sourcing cost inflation, particularly in its value channels... costs are actualizing above the initial estimates. The company now expects product costs per unit to be up about 20% in the back half of the year, which will more than outweigh retail price increases." GPS -14.1% AH.