Gap earnings beat the Street as Old Navy returns to form
GPSGap(GPS) Proactive Investors·2024-03-08 16:10

Gap Inc (NYSE:GPS). shares jumped around 5% after hours on Thursday after it posted better-than-expected earnings for the crucial holiday quarter, driven by the long-awaited return to form of the Old Navy chain. EPS for the three months ended December 31 were 49 cents, more than double the Street's figure of 23 cents, while revenue was 4.3billion.Despiteaslightoverallsalesincreaseto4.3 billion. Despite a slight overall sales increase to 4.3 billion, the retailer experienced flat comparable sales, with a mix of a 4% increase in in-store sales and a 2% ...