In the first quarter of 2018, the net sales of Gap were recorded at $3.8 bn, an increase of 10 per cent compared with last year. Excluding the impact from the adoption of the new revenue recognition standard, net sales increased 6 per cent compared with last year. The comparable sales increased 1 per cent compared with a 2 per cent increase last year. Gross profit was $1.43 bn in the first quarter of 2018, an increase of 10 per cent compared with last year. Excluding the impact from the adoption of the new revenue recognition standard, gross profit increased about 3 per cent compared with last year.

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