Andrew Keith
The News in Brief

Gap Inc on Thursday reported a surprise profit in the first quarter, and its shares jumped 16 percent in extended trading as the apparel retailer cited restructuring efforts and easing supply chain costs.

Italy’s Armani Group said on Thursday its sales jumped 18 percent in the first quarter thanks to a rebound in Asia and more modest growth in the United States, where a slowdown is expected in the coming months.

Ralph Lauren Corp beat profit estimates and reported a surprise rise in fourth-quarter revenue on Thursday as its new seasonal collections resonated with affluent shoppers at a time when luxury spending has cooled in the United States.

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