A jolly holiday season helped Gap Inc. post fourth-quarter earnings and sales that beat expectations, leading to speculation that the chain’s turnaround may be starting to take hold.
The nation’s largest apparel retailer reported net income of $220.0 million, or 55 cents per share, up from $214.0 million, or 53 cents per share, last year.
Sales totaled $4.43 billion, up from $4.39 billion and ahead of the $4.41 billion analysts had expected.
Total same-store sales rose 2%, compared to a 7% drop in the year-ago period.
