Gap Inc. (GPS) reported Thursday morning that its fourth quarter comparable store sales declined by 4%. The company expects to report fourth quarter EPS of $0.41 to $0.42, which is above the consensus estimate of $0.35.
Gap Inc. gapped open sharply higher Thursday, but traded in a range for the majority of the session. The stock closed up by 2.07 at $21.52, with volume at nearly a 6-month high. Gap surged to over an 8-month high.
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