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Gap posts 60% hike in Q3 income  Join our daily free Newsletter

MENAFN - 16/11/2012

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(MENAFN) Gap Inc. announced that net income soared 60 percent in the third quarter to USD308 million, reported AP.

The clothing retailer said that in the period, revenue gained 8 percent, reaching USD3.86 billion.

The San Francisco-based company attributed the increase to higher sales at its Banana Republic, Old Navy and namesake stores.

Sales at stores open at least a year, a key metric as it excludes the volatility of newly opened and closed locations, grew 6 percent in North America.

It is worth noting that in 2011's third quarter, Gap posted a net income of USD193 million.

 






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