India, Aug. 28 -- The Gap Inc. (GAP) shares rose 14.26 percent to $23.75 on Friday, after the retailer reported a sharp increase in second quarter profit the previous day, despite a decline in revenue.
The stock opened at $24.68 and traded between $23.53 and $25.80. Its 52-week range is $18.11 to $29.36 on the New York Stock Exchange. Trading volume was 12.72 million shares, compared with an average volume of 7.74 million shares.
The company's net income climbed to $501 million, or $1.38 per share, from $216 million, or $0.57 per share, a year earlier. Adjusted earnings were $190 million, or $0.52 per share.
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Revenue fell 2 percent to $3.651 billion from...