The Gap (GPS) Posts Q2 Earnings Beat, Weak Comps and Guidance
The Gap, Inc. GPS just released its second-quarter earnings results, posting earnings of $0.60 per share and revenue of $3.851 billion.
Currently, GPS has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
The Gap:
1. Beat earnings estimates. The company posted earnings of 60 cents per share (excluding 29 cents from non-recurring items), just edging out our Zacks Consensus Estimate of $0.59.
2. Beat revenue estimates. The company saw revenue figures of $3.851 billion, beating our estimate of $3.808 billion.
3. Gap’s comparable store sales for Q2 were down 2% versus a 2% decline last year. Broken down by brand, Gap Global saw comps decline by 3% (-6% last year), Banana Republic Global comps fell 9% (-4% last year), and Old Navy Global comps were flat (+3% last year).
4. Gap now expects its adjusted diluted earnings per share for fiscal 2016 to be in the range of $1.87 to $1.92. The current Zacks Consensus Estimate calls for earnings of $1.94 per share.
5. GPS was down $0.26, or 1.00%, to $25.62 as of X:XX p.m. EST in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at The Gap’s latest earnings performance:
GAP INC Price, Consensus and EPS Surprise
GAP INC Price, Consensus and EPS Surprise | GAP INC Quote
The Gap, Inc. is a global specialty retailer which operates stores selling casual apparel, personal care and other accessories for men, women and children under the Gap, Banana Republic and Old Navy brands. The company designs virtually all of its products, which in turn are manufactured by independent sources, and sells them under its brand names.
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