CNBC's Jim Cramer said Friday that Gap's disappointing earnings report and poor morale there was a "downer" for him.
"This was a very demoralizing call," he said on CNBC's "Squawk on the Street."
On Thursday the struggling company reported an 8 percent fall in quarterly profit, hurt by a stronger dollar and supply delays due to the West Coast port situation.
Read More
However, Cramer was more disappointed in the company's conference call in which CEO Art Peck said Gap still had a long way to go before positive earnings can be seen.
"For those who want to think that Gap can turn very quickly, I found this call to be sobering. Sobering how it's going to be hard to do and depressing. I found the call depressing," Cramer said.
—Reuters contributed to this report.