Gap posted a profit of $333 million, or 71 cents a share, for its fiscal first quarter ended May 4, increasing from $233 million, or 47 cents a share during the year-earlier quarter. The company posted revenue of $3.73 billion, an increase of 6.9% from a year earlier.
Analysts polled by Thomson Reuters on average expected the apparel maker to post fiscal first-quarter earnings of 69 cents a share on revenue of $3.68 billion.
- Gap: positive 3% versus positive 2% last year;
- Old Navy: positive 3% versus positive 4% last year;
- Banana Republic: flat versus positive 5% last year.
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