Business

Gap’s 4th-quarter profit down 12.5 percent

By Anne D'innocenzio
Published February 28, 2014 12:13am ET
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Gap’s 4th-quarter profit down 12.5 percent
FILE - In this Thursday, Nov. 28, 2013, file photo, a shopper holds her purchases while shopping at a Gap factory store at the Citadel Outlets in Los Angeles. Gap Inc. reports quarterly financial results after the market closes on Thursday, Feb. 27, 2014. (AP Photo/Jae C. Hong, File) | Jae C. Hong

NEW YORK (AP) — Gap Inc.’s fourth-quarter profit dropped 12.5 percent as the clothing retailer discounted heavily over the holiday shopping season to entice customers.

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