US Apparel Brand Gap Surged 60% In The Three Quarter

U.S.A

The company operates Banana Republic and Old Navy chain stores. Due to the new sales and innovative product lines, the company's three quarter profit surged by 60%, so the company raised its annual profit forecast.

The San Francisco based company said these achievements highlighted the company's continuing implementation of its main business strategy.

Glen and Murphy, chairman and CEO of the company, said: "we are pleased with the strong financial performance in the three quarter, which highlights the reaction of our customers to our products.

We are ready to win the holiday season, and we will strive to maintain the biggest growth. "

In the three months ending October 27th, the company's net income rose to $308 million, or $0.63 per share, up from $193 million or $0.38 Per Share during the same period last year.

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It increased by 8% to $3 billion 860 million, up from $3 billion 590 million in the same period last year.

Comparable sales increased by 6%, and the whole company's business in North America increased.

Gap grew by 7%, Banana Republic increased by 6%, and Old Navy increased by 9%.

However, international comps performance fell by 3%.

In view of the company's progress so far this year, the annual profit forecast is between us $2.20 and US $-2.25, compared with $1.56 per share last year.