The Gap Tops Analysts Expectations and Re-Affirms Full Year Guidance

Shares of The Gap moved lower after the close on Thursday despite reporting first quarter results which topped forecasts. The Gap reported earnings of $0.58 a share, that was a penny more than analysts expected. The clothing retailer also re-affirmed its full year earnings per share guidance. Revenue has been climbing for three consecutive quarters. Revenue came in at $3.77 billion, up one percent from a year ago. The Gap is has been working to improve its online offerings to help increase sales and it is also planning to expand in Asia. Kori Hale has details from Wall Street.