CEO: Gap is on the road to recovery

05/23/2008 | Wall Street Journal (free content), The

Gap reported a profit rise of 40% in its fiscal first quarter despite lower sales, thanks to cost management and inventory control. "We are pleased with our first-quarter results, as we delivered solid earnings growth in a difficult environment," CEO Glenn Murphy said. "We are focused on bringing compelling product and shopping experiences to our customers while managing costs tightly. We believe this approach is proving even more prudent given the current economic conditions."

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Wall Street Journal (free content), The

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