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Gap Profit Jumps Up By 12.6 Percent
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19 May 2017 02:02 AM EST

Clothing retailer Gap Inc has reported a 12.6 percent rise in quarterly profit, which was probably helped by robust demand for its Old Navy brand. The company's net income rose to 143 million dollars, or 36 cents per share, in the first quarter that ended April 29th. The profits rose from 127 million dollars, or 32 cents per share, a year earlier.Gap's same-store sales rose 2 percent in the quarter as well. Analysts on average had expected a 0.2 percent fall.

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