Gap Net Profit In The Second Quarter Increased By 25% Over The Same Period Last Year.

< p > US < a href= "http://www.91se91.com/news/index_c.asp" > retail giant < /a > Gap (GPS) today announced the second quarter earnings. The report shows that Gap's net profit in the second quarter was US $303 million, an increase of 25% over the 243 million US dollars in the same period last year. < /p >
< p > in the fiscal quarter ending August 3rd, Gap's net profit was 303 million dollars and earnings per share were 64 cents, which is better than the same period last year. In the second quarter of last fiscal year, Gap's net profit was $243 million and earnings per share were 49 cents. Gap forecast earlier this month that earnings per share in the second quarter were 62 cents to 64 cents, exceeding the average expectations of Wall Street analysts at that time. Gap's net sales in the second quarter were US $3 billion 870 million, an increase of 8.1% over the same period last year. The same store sales of Old Navy and Gap grew by 6%, but the sales of high-end a href= http://www.91se91.com/news/index_c.asp Banana Banana Republic /a stores decreased by 1%. < /p >
< p > > a href= "http://www.91se91.com/news/index_c.asp" > Gap < /a > gross profit margin in the second quarter was 40.5%, higher than 39.9% in the same period last year. From a regional perspective, Gap's sales in the US market in the second quarter increased by 9.1% over the same period last year, and sales in the Asian market increased by 0.6% over the same period last year. Sales in the Canadian market grew by 10% over the same period last year, and sales in the European market increased by 6.6% over the same period last year. < /p >
< p > Gap also said that the company plans to open the first Old Navy chain store in Shanghai in the first half of 2014, and will launch an e-commerce website for the brand in the Chinese market. Gap has been expanding its coverage of the same name chain store in the Chinese mainland market. < /p >
< p > Gap expects earnings per share to be between $2.57 and $2.65 a year, higher than the previous estimate of $2.52 to $2.60, but not as expected by analysts. Thomson Reuters survey shows analysts expect Gap earnings per share to reach $2.78 per year. Gap also said the company had raised its annual dividend by 20 cents to 80 cents per share, the second dividend raised by the company in mid 2013. Overall, after two increases, Gap's dividend has increased by 60% over the past year. < /p >
< p > Gap shares rose 2.2% in the after hours trading to $42.94. As of Thursday's closing date this year, Gap's share price has risen by 35%, which is better than the market. < /p >