NEW YORK (TheStreet) --Shares of The Gap Inc. (GPS) are higher by 0.51% to $43.40 in after-hours trading on Thursday, after the company reported an increase in net income for the 2014 second quarter to $332 million, or 75 cents per diluted share, compared to $303 million, or 64 cents per diluted share for the year ago period.
The clothing and accessories retailer said net sales grew 3% to $3.98 billion for the most recent quarter versus $3.86 billion for the 2013 second quarter.
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Separately, TheStreet Ratings team rates GAP INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GAP INC (GPS) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: GPS Ratings Report