Gap posts bigger quarterly profit, shares rise
Nov 15 (Reuters) - Gap Inc posted a bigger quarterly profit as its brightly colored clothes stayed popular with shoppers ahead of the holiday season, sending its shares up 6 percent after the bell.
The company, which owns the Gap, Old Navy and Banana Republic chains earned $308 million, or 63 cents a share, compared with $193 million, or 38 cents a share, in the same quarter last year.
Sales for the third quarter ended Oct. 27 rose 8 percent to $3.86 billion.
Gap shares were trading up at $35.17 after the bell. They closed at $33.26 Thursday on the New York Stock Exchange.
- Islamic State threat 'beyond anything we've seen': Pentagon
- Oklahoma City policeman arrested for raping women while on patrol
- Ukraine accuses Russia of invasion after aid convoy crosses border |
- Exclusive: Apple iPhone 6 screen snag leaves supply chain scrambling
- Islamic State threat 'beyond anything we've seen': Pentagon |