Gap Inc gave investors plenty to smile about, with shares jumping 12.4% in after-hours trading after the retailer posted stronger-than-expected results for its fourth quarter. And if that wasn’t enough, the company also announced a 10% increase to its quarterly dividend – a solid win for shareholders.
The high-street fashion giant outperformed Wall Street’s forecasts, reporting adjusted earnings per share of $0.54, well above analysts’ predictions of $0.36. Revenue also came in slightly higher than expected, hitting $4.1 billion compared to the anticipated $4.07 billion. Comparable sales saw a 3% year-on-year increase, showing the brand is still drawing in shoppers.
