Gap sees hit $100 million to first-quarter sales due to coronavirus

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(Reuters) – Gap Inc (N:) said on Thursday it expected a $100 million hit to first-quarter sales due to the impact of the fast-spreading coronavirus in Asia and Europe.

“Due to the evolving coronavirus situation, we are facing a period of uncertainty regarding the potential impact on both our supply chain and customer demand,” incoming Chief Executive Officer Sonia Syngal said in a statement.

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