RTTNews | Mar 5, 2021 10:14AM EST

10:13 Friday, March 5, 2021 (RTTNews.com) - The Gap, Inc. (GPS) shares are rising on Friday morning trade as the company reported a swing to profit from loss last year.

For the fourth quarter the company reported net profit of $234 million compared to net loss of $184 million in the prior year. On a per share basis, earnings were $0.61, while the loss in the prior year was $0.49.

Revenue for the quarter declined to $4.42 billion from $4.67 billion a year ago.

Currently, the shares are at $27.40, up 7.96 percent, from the previous close of $25.38. For the 52-week period, the shares have traded in a range of $5.26-$28.39, on average volume of 7,142,545.

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