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Improving Gap delivers good news
A jolly holiday season helped Gap Inc. post fourth-quarter earnings and sales that beat expectations, leading to speculation that the chain’s turnaround may be starting to take hold. The nation’s largest apparel retailer reported net income of $220.0 million, or 55 cents per share, up from $214.0 million, or 53 cents per share, last year. Sales totaled $4.43 billion, up from $4.39 billion and ahead of the $4.41 billion analysts had expected. -
Gap surprises in January
Gap Inc. reported higher than expected sales for January and the fourth quarter, fueled by strong increases at Old Navy. The retailer reported that net sales for the four-week period ended January 28, 2017 increased 2% to $828 million. Total same-store sales for the month rose 1%, led by a 3% gain in the namesake brand and a 2% increase at Old Navy. The ailing Banana Republic continued to slump, with a 4% decrease.

