Gap Shares Gain on Earnings

[Stocks-to-Watch]

Shares of Gap (GPS) are moving up 2.3% in after hours trading after the clothing retailer reported better-than-expected earnings.

After the market close, Gap said it earned $365 million, or 60 cents a share, versus 51 cents a share in the year-earlier period, and three cents ahead of analysts’ estimates. Sales of $4.36 billion were in line with expectations.

The company said it planned to buy back $2 billion in stock, as well as increase its dividend by a nickel, to 45 cents.

Shares have gained 9% since Barrons.com recommended them in November.



Original Article Source by Barrons.com