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GPS » Topics » GAP INC. REPORTS THIRD QUARTER NET EARNINGS INCREASED 25 PERCENT

This excerpt taken from the GPS 8-K filed Nov 19, 2009.

GAP INC. REPORTS THIRD QUARTER NET EARNINGS INCREASED 25 PERCENT

SAN FRANCISCO – November 19, 2009 – Gap Inc. (NYSE: GPS) today reported that net earnings for the third quarter, which ended October 31, 2009, increased 25 percent to $307 million, or $0.44 per share on a diluted basis, compared with $246 million, or $0.35 per share on a diluted basis, for the same period last year.

“We’re pleased with our third quarter results, particularly our ability to deliver earnings 25 percent above last year and our highest third-quarter operating margin in a decade,” said Glenn Murphy, chairman and chief executive officer. “Looking ahead to the holiday season, we’re focused on gaining market share as we invest in marketing and present a strong value proposition to customers across our brands.”

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