City AM reports that
Gap has announced a higher second-quarter profit, helped by the sales gains at
its namesake and Old Navy chains and online, which has led to the fashion
retailer raising its full-year profit forecast. Gap now expects a profit for
the year ending in February of $2.57 to $2.65 per share, five cents above its
previous range. The company also raised its annual dividend to 80 cents per
share.
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