Cramer’s Mad Dash: Gap

Summary

Jim Cramer discusses Gap's disappointing quarterly earnings, focusing on Old Navy's weak performance and the company's slashed outlook. He highlights execution issues and inconsistent results, noting multiple downgrades and a brutally honest earnings call. Cramer does not give a clear buy or sell recommendation but describes the stock as a loser this morning.

• Gap reported earnings with Old Navy sales disappointing and the flagship brand up 10%.
• The company slashed its outlook sharply, surprising many investors.
• CEO Richard Dix blamed execution issues, not the broader macro environment.
• Gap received multiple downgrades from analysts.
• Real consumer spending on footwear and apparel is negative, posing headwinds.
• Cramer notes inconsistency in Gap's performance on a longer-term chart.