Gap’s 3rd-quarter profit up 9.4 percent

November 21, 2013 • Business

FILE – In this Tuesday, Feb. 26, 2013, file photo, a shopper walks down the steps at a Gap store in Los Angeles. Gap Inc. reports quarterly financial results after the market closes on Thursday, Nov, 21, 2013. (AP Photo/Jae C. Hong, File)

NEW YORK (AP) — Gap Inc. reported a 9.4 percent increase in third-quarter earnings, but the fashion retailer maintained a conservative annual profit outlook that suggests a tough holiday quarter ahead.

Like many retailers, Gap, which operates stores under names including its namesake, Old Navy, Banana Republic and Athleta, is heading into a fiercely competitive holiday shopping season where merchants are ramping up sales. Gap has been doing its part by offering constant discounts and is trying to lure shoppers with an incentive that lets customers earn $25 for every $50 they spend through Friday

The results, nevertheless, were among a few Login to read more

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