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Friday, February 26, 2010
Gap 4Q Profit Jumps 45%; Plans To Increase Dividend 18%
The Wall Street Journal
Gap Inc. fiscal fourth-quarter profit grew by 45%, on strong sales at its long-struggling Old Navy chain, as the casual-apparel retailer announced plans to lift its annual dividend by 18% and launch a $1 billion stock-buyback effort.
Gap had one of its most successful holiday quarters in some time, according to Wall Street Strategies analyst Brian Sozzi. He added that stronger merchandise and the return of meaningful advertising appear to have brought consumers back to Gap. While noting disappointment with Banana Republic, Sozzi said post-holiday merchandise looks increasingly versatile.
Link to full article: http://online.wsj.com/article/BT-CO-20100225-720260.html?mod=WSJ_World_MIDDLEHeadlinesEurope
Posted by Brian Sozzi, Research Analyst
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