Gap Q1 profits increase 14.7 percent
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American clothing retailer Gap said on Thursday its Q1 net profit for 2018 increased. Revenues increased by 10 percent from the same period last year.
The company’s net profit for Q1 2018 was 164 million US dollars, up from 143 million US dollars a year earlier. Revenues increased to 3783 million US dollars. The profit margin of the company rose to 4.3 percent compared to 4.2 percent a year ago.
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Gap Inc was founded in 1969 by Donald Fisher and Doris F. Fisher and is based in San Francisco, California, United States. Gap is a leading international specialty retailer. Through five brands under its fold – Gap, Banana Republic, Old Navy, Athleta and Intermix, the company is known for its smart clothing and accessories.
Offering men's, women's and kids' clothing, the New York-listed company has 150000 employees worldwide and operates about 3200 own stores.
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