Gap Inc. said Thursday that its fourth-quarter net income rose nearly 4 percent as slightly stronger sales at its higher-priced Banana Republic stores made up for continued weakness at Gap brand stores.
Gap Inc. said its profit for the fiscal year just ended will come in higher than expected, as revenue at stores open at least a year rose 1 percent in January.
Gap Inc.’s North American President Marka Hansen is leaving the company after 24 years, effective Friday, following a weak holiday season by the clothing brand.
The Gap Inc. reported Thursday its third-quarter net income fell 1 percent, though revenue rose 2 percent.
There’s a lot of yap online, most of it negative, about the new Gap Inc. logo that the chain quietly slipped onto its website this week.