Gap shares up as future brightens |
| Businessweek - Aug 17, 2012 |
Gap Inc.'s shares are up Friday, a day after the fashion retailer released second-quarter results that showed its move to jazz up its clothes is winning over shoppers and fueling a turnaround.
THE SPARK: Gap reported a 29 percent increase in second-quarter net income, helped by its move to liven up its stores with colorful jeans and tops. It's also kept a tight lid on inventory. It raised its full-year earnings guidance.
The company earned $243 million, or 49 cents per share, in the three-month period ended July 28 while revenue rose 6 percent to $3.58 billion. Analysts had expected a profit of 48 cents on revenue of $3.57 billion, according to FactSet.
Revenue at stores opened at least a year was up 4 percent for the quarter. By division, the metric rose 7 percent at Gap and Banana Republic and 3 percent at Old Navy. International same-store sales fell 5 percent in the quarter, however.
Read Full Article from Businessweek
- Posted: 2012-08-17 15:32:14
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
