Gap Inc. (GPS) reported net income for the first quarter of $333 million or $0.71 per share, compared to $233 million or $0.47 per share in the year-ago quarter.
Net sales for the first quarter rose 7 percent to $3.73 billion from $3.49 billion in the same quarter last year. Same-store sales for the quarter were up 2%.
On average, analysts polled by Thomson Reuters expected the company to earn $0.69 per share on revenue of $3.68 billion for the first quarter.
Looking forward, the company reaffirmed its fiscal year 2013 earnings of $2.52 to $2.60 per share. Analysts currently expect the company to earn $2.73 per share for the fiscal year 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.