Why The Gap Stock Trounced the Market on Friday
The stock market as a whole sagged on Friday, but you wouldn't know it from the performance of The Gap's (NYSE: GPS) shares. The veteran clothing company's stock traded sideways on the day thanks to better-than-expected quarterly results.
For its fourth quarter of its fiscal 2021, The Gap posted net sales of $4.5 billion. That was 2% higher on a year-over-year basis and essentially matched the average analyst estimate. It was also on the back of a comparable-sales figure that rose by 3%.
Image source: The Gap.
Source Fool.com
