By  on August 21, 2008

In its slow and laborious turnaround efforts, Gap Inc. showed progress on Thursday, reporting second-quarter net earnings up 51 percent due to improved margins and wide cost reductions.

Still, comparable-store sales dropped 10 percent, indicating the $16 billion San Francisco-based chain continues to face serious issues with product acceptance, drawing customers into the stores, and operating locations that are too large for the offering.

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