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Gap exceeds expectations — Old Navy drives growth

Gap reported third-quarter earnings of $0.62 per share on revenue of $3.94 billion, beating consensus estimates. Comparable sales rose 7 percent, led by Old Navy with a same-store sales increase of 6 percent. In light of the stronger results, Gap raised its fiscal 2025 revenue forecast to +1.7 to +2.0 percent; the stock rose about 4 percent in after-hours trading. » More on de.investing.com