mind the gap

Gap’s Profits Rise, But Not Because They’re Selling More Clothes

Gap’s third-quarter net earnings are up 3.4 percent. The growth comes not from sales, which are declining, but improved margins — the company’s strategy for earning money in recent quarters. The company’s biggest in-store sales decline occurred at Old Navy, which suffered an 18 percent drop. [WSJ]

Gap’s Profits Rise, But Not Because They’re Selling More Clothes