Gap stock (NYSE:GPS) was sliding late in the day Tuesday as the company reported its latest quarterly earnings results, which beat analysts’ expectations but its profit outlook for the current quarter was cut by the retailer.

The apparel store chain said that for its third quarter of its fiscal 2018, it brought in adjusted earnings of 69 cents per share, which is stronger than the 68 cents per share that analysts were calling for in their consensus estimate. The company’s revenue for the period tallied up to $4.1 billion, beating the $3.89 billion that analysts projected.

However, Gap’s same-store sales came in flat overall, missing the 1.1% increase that the Wall Street consensus estimate called for, according to data compiled by Consensus Metrix. “We are clearly not satisfied with the performance of Gap brand,” Gap CEO Art Peck said in a statement. “We know this iconic brand is important to customers, and we are committed to taking the bold and necessary steps to ensure that it delivers value to shareholders.”

The company added that it has reduced its fiscal 2018 earnings guidance to now be in the range of $2.55 to $2.60 per share, below its previous forecast of $2.55 to $2.70 per share. Analysts are calling for full-year earnings of $2.57 per share.

Gap stock is down nearly 2% after the bell following the company’s quarterly earnings results, which saw its outlook for the current period reduced. GPS shares had been sliding more than 3% during regular trading hours in anticipation of the company’s results.