Gap. Inc. on Monday raised its profit guidance for the year on strong holiday sales, lifting its share price 3% in after-hours trading.
The apparel retailer’s Q4 net sales rose 1% to $4.43 billion, edging out analysts’ expectations for $4.4 billion and besting year-ago results of $4.39 billion. Net sales in the four-week holiday period rose 2% to $828 million, compared with net sales of $813 million for the same period last year.
