May 18, 2017 / 8:22 PM / 4 months ago

Gap profit jumps 12.6 pct

May 18 (Reuters) - Clothing retailer Gap Inc reported a 12.6 percent rise in quarterly profit, helped by robust demand for its Old Navy brand.

The company’s net income rose to $143 million, or 36 cents per share, in the first quarter ended April 29 from $127 million, or 32 cents per share, a year earlier.

Gap’s same-store sales rose 2 percent in the quarter. Analysts on average had expected a 0.2 percent fall, according to Consensus Metrix.

Revenue was flat at $3.44 billion. (Reporting by Arunima Banerjee in Bengaluru; Editing by Anil D‘Silva)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below