Gap Inc. added $100 million to its bottom line in the first quarter and a bit more to its online sales total.
The San Francisco-based company, the largest U.S.-based apparel retailer, recorded a 42.9 percent increase in net income, to $333 million, or 71 cents a share, from $233 million, or 47 cents, in the year-ago period. The earnings per share figure was 2 cents better than the 69 cents analysts, on average, had expected. The company’s operating margin grew to 14.2 percent of sales from 11.3 percent in the first quarter of last year.
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