Gap fends off retail apocalypse, climbs on earnings beat (GPS)

Gap Inc.'s stock climbed 6% to $24.57 a share after the company reported first-quarter profit that beat analyst forecasts.
The adjusted gain for the period was $0.36 per share, exceeding consensus estimates of $0.29 per share. The clothing retailer also reported quarterly revenue of $3.44 billion, beating an analyst forecast of $3.39 billion. Further, same-store sales climbed 2%, while estimates called for a 0.2% contraction.
“We are pleased with our positive comp and earnings growth this