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News Summary: Gap raises outlook for year
Thursday - 11/15/2012, 6:20pm EST
(AP) - BOTTOM LINE: Gap Inc. raised its outlook for the year after the clothing retailer said stronger sales helped lift its net income by 60 percent in the third quarter.
NICE FIT: The San Francisco-based company said sales at stores open at least a year rose 6 percent in North America, with Gap, Banana Republic and Old Navy all logging gains.
CHANGING ROOM: The company is in turnaround mode and last month announced a management overhaul aimed at responding quickly to changing tastes around the world. The company says it's going from an "American-centric company" to more of a global brand.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)