Gap is doubling down on one of retail's deadliest mistakes (GPS)

Mallory Schlossberg/Business Insider GapInc. reported disappointing 2018 first-quarter earnings for its namesake brand on Thursday. Same-store sales were down 4%, and heavy discounting weighed on profit margins. Gap's CEO said that promotions were necessary to clear out inventory. The brand has become adiscount haven. In its current sale, customers can get as much as 70% off of a wide range of items if bought online. While someretailers have scaled back on discounting, Gap does not seem to show ...