Gap Stock Surges After Turnaround Plan Drives Quarterly Results, Raised Outlook

Key TakeawaysGap shares surged more than 23% in late trade Thursday after the clothing and accessories retailer topped analysts' quarterly expectations and raised its full-year outlook.Comparable store sales in the quarter rose 3% from a year earlier, driven by each of Gap’s four brands posting positive same store sales in the period.New CEO Richard Dickson has led an ambitious turnaround plan that has seen the retailer work on improving its operational efficiency and reposition the company’s brands.Gap sha ...