Gap’s profit fell 12.7% to $18.6 million...

Gap’s profit fell 12.7% to $18.6 million in the third quarter. In September, the San Bruno, Calif.-based retailer said its earnings might fall by as much as 33% for the quarter. Sales rose 21.7% to $273.6 million. Analysts said in September that the company had shifted too quickly from popular clothing styles to fashions that were not yet selling well. The company said it has been forced to use promotions, or lower prices, to clear its inventory.