Gap's Profit Not Enough to Move Investors
NEW YORK (
) --
Gap
(GPS)
is taking a hit in after-hours trading, as investors are ,disappointed with the company's in-line third-quarter profit.
During the quarter the specialty retailer earned 48 cents a share on revenue of $3.65 billion, compared with Wall Street's forecast of 48 cents on revenue of $3.58 billion.
"We improved the top line and grew our earnings per share this quarter while keeping a clear focus on North America and making strategic global investments, including new market entries in China and Italy," CEO Glenn Murphy said in a statement.
Shares of Gap are down nearly 3% to $20.30 in extended trading.
TheStreet Recommends
--Written by Jeanine Poggi in New York.
>To contact the writer of this article, click here:
Jeanine Poggi
.
>To follow the writer on Twitter, go to
.
>To submit a news tip, send an email to:
.
