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From Times Staff and Wire Reports
Gap Posts 10% Gain in Earnings: Gap Inc. reported a 10% gain in quarterly profit on a 17% sales increase. The San Francisco clothing retailer earned $37.7 million, or 26 cents a share, for the three months ended Aug. 1, up from $34.2 million, or 24 cents a share, for the same period a year ago. Revenue rose to $614 million from $523 million. Sales at stores open more than a year rose 5% for both the second quarter and the first six months of fiscal 1992. Many industry observers believe same-store sales provide a more accurate assessment of a retailer’s performance than overall sales.
