Gap Shares Fall 10% After Q4 Profit Declines

(RTTNews) - The Gap, Inc. (GAP) shares fell 10.02 percent to $24.48, dropping $2.73 on Friday, after the company reported a decline in fourth-quarter profit despite a slight increase in revenue.

The stock is currently trading at $24.48, down from its previous close of $27.20. Shares opened at $27.74 and traded in a range of $24.18 to $24.83 during the session on the New York Stock Exchange. Trading volume reached about 1.28 million shares, compared with an average volume of about 7.46 million shares.

Gap reported fourth-quarter earnings of $171 million, or $0.45 per share, compared with $206 million, or $0.54 per share, in the same period last year. Revenue rose 2.2 percent to $4.23 billion from $4.14 billion a year earlier.

The stock has traded between $16.99 and $29.36 over the past 52 weeks.