gap inc reported weakerthanexpected results in the latest quarter as supply chain disruptions thwarted its ability to keep its shelves stocked the retailer reported net sales for the third quarter of 394 billion compared with 399 billion a year earlier and 4 billion for the same period in 2019 analysts polled by factset were expecting sales of 443 billion the company said that supply chain disruption had an 8 percentage point negative effect on sales because of constrained inventory while we entered the third quarter with growing momentum acute supply chain headwinds affected our ability to fully meet strong customer demand chief executive sonia syngal said in prepared remarks ms syngal added that the company would accelerate its use of air freight to better position it for the holiday shopping season compared with the third quarter of 2019 old navy saw sales rise 8 in the latest quarter while athleta sales rose 48 gaps sales declined 10 and banana republics sales fell 18 for the quarter the company swung to a loss of 152 million compared with earnings of 95 million a year earlier the loss was driven by the extinguishment of debt in the latest quarter the company reported a loss per share of 40 cents adjusted earnings were 27 cents a share analysts were expecting adjusted earnings of 50 cents a share