Gap shares dip following disappointing earnings

Thomson Reuters NEW YORK (AP) — Gap's shares took a hit in after-hours trading Thursday after the clothing chain offered a weak profit outlook. The outlook came as the San Francisco-based chain reported a 33 percent drop in fourth-quarter profits as business was hurt by a strong U.S. dollar and strategic moves to turn around its ailing business. The results show the continued challenges facing CEO Art Peck, who took over the helm a year ago. The company has worked to improve its fashions and t...