Traders unimpressed with Gap's 25% profit jump - Elizabeth Harrow

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Traders unimpressed with Gap's 25% profit jump
Nov 20, 2009 05:20 PM UTC

Elizabeth Harrow

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Via BloggingStocks:

Filed under: Earnings reports, Gap Inc (GPS), Options

Thursday, The Gap Inc. (GPS) reported that its third-quarter net profit totaled $307 million, or 44 cents per share, up 25% from the year-ago period. Revenue for the quarter added 1% to $3.59 billion, while gross margin surged 380 basis points to 42.5%. Operating margin escalated from 11.1% to 13.9%, marking its highest level in 10 years.

The retail issue also announced a new stock buyback plan worth $500 million. About $20 million of that amount will be repurchased from the family of founder Donald Fisher, who passed away in September.

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Traders unimpressed with Gap's 25% profit jump originally appeared on BloggingStocks on Fri, 20 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

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