Gap shares jump on surprise quarterly profit

Gap says restructuring efforts and easing supply chain costs led to a surprise profit in the first quarter.
Investors liked the news, sending shares of the retailer jumping as high as 16% in extended trading.
Executives said the company spent less on salaries and other operating costs in a bid to improve margins, along with efforts to reduce inventories.
The company has…

This story appeared on, 2023-05-26.
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