Gap tops expectations
SAN FRANCISCO (AP) — Gap Inc. on Thursday reported fiscal second-quarter profit of $297 million.
The San Francisco-based company said it had profit of 76 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The clothing chain posted revenue of $4.09 billion in the period, which also topped Street forecasts.
Gap expects full-year earnings to be $2.55 to $2.70 per share.