Shares of Gap Inc. (GAP) tumbled Friday after the apparel retailer warned of the negative impact of tariffs on its full-year earnings in its latest quarterly report.

The retailer topped first-quarter estimates with earnings per share of $0.51 on revenue of $3.46 billion, but its outlook regarding tariffs outweighed the solid results. The operator of its namesake stores and the Banana Republic, Old Navy, and Athleta brands kept its full-year outlook the same as what it 澳洲幸运5官方开奖结果体彩网:laid out last quarter, with sales rising 1% to 2%, but noted♚ that it does not 🌊include the impact of tariffs.

If the tariffs stay in place, Gap estimates the incremental cost at $250 million to $300 million. The company said it has "strategies to mitigate" the impact, meaning Gap's operating income could take a net hit of $100 million to $150 million, largely in the back half of the year.

CEO Richard Dickson said in Thursday's earnings call that the company does "not expect there to be meaningful price impacts to our consumer," and said it is still approaching pricing like normal—evaluating competition, the consumer, and Gap's desire to provide value, per an AlphaSense transcript of the call.

The company sees second-quarter net sales "approximately flat year-over-year."

Gap shares w꧅ere down 18% in Friday afternoon trading to move into negative territory for the yea🦩r.

UPDATE—This article has been updated with the latest share price information.