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NEW YORK — Deep discounting and escalating production costs pushed Gap Inc.’s second-quarter profit down 19 percent, raising concern about how the nation’s largest clothing chain will fare during the fall and holiday seasons.
Gap earned $189 million, or 35 cents a share, in the three months ended July 30. That compares with $234 million, or 36 cents a share, a year ago. Revenue rose 2 percent to $3.38 billion.
