San Bruno, Calif.-based The Gap posted a...

San Bruno, Calif.-based The Gap posted a 56% increase in income from continuing operations for the third quarter ended Nov. 1 of fiscal 1986 and revenue for the period jumped 23.7%. A spokesman said that third-quarter earnings exceeded those of any previous quarter in the company’s history. The performance reflected the success in the Gap Stores division’s move away from the price-sensitive back-to-school business into a more traditional fall business. Also, The Gap opened nine stores in the quarter, with the new stores showing better than expected sales levels.