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Friday, February 26, 2010
Gap profit beats Street, gives upbeat forecast
Reuters
Gap Inc posted a 45 percent rise in profit during its holiday quarter, helped by fewer discounts and improved sales in all divisions, and gave a 2010 profit forecast that beat Wall Street’s estimates. The results “will temper expectations in the market that earnings are destined for a sharp slowdown,” wrote Brian Sozzi of Wall Street Strategies in a research note.
Link to full article: http://blogs.reuters.com/nicole-maestri/2010/02/25/gap-profit-beats-street-gives-upbeat-forecast/
Posted by Brian Sozzi, Research Analyst
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