Gap Q2 revenues rise 8 percent

American clothing retailer Gap said on Thursday its Q2 revenue for 2018 increased by 8 percent. Profit rose by 9.6 percent from the same period last year.

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The company’s sales in Q2 2018 were 4.1 billion US dollars, up from 3.8 billion US dollars a year earlier. Net profit rose to 297 million US dollars. The profit margin of the company rose to 7.3 percent compared to 7.1 percent a year ago. The company has reaffirmed its full-year diluted earnings per share guidance to be in the range of 2.55 dollars to 2.70 dollars and comparable sales to be flat to up slightly.

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 about 150,000 employees worldwide and operates more than 3,200 stores.

For more recent news on the business, collections and executive changes of Gap Inc, click here.

Picture:Banana Republic website

 

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