Gap and American Eagle shares both get crushed — and neither retailer is blaming the economy

Gap and American Eagle both posted disappointing earnings, sending shares lower, while management explicitly avoided blaming the macro environment — pointing to company-specific execution failures. AEO is down ~12% on the day with B of A maintaining Underperform and cutting its target to $16, right at current levels, leaving almost no upside buffer and a wall of analyst skepticism.