16.69 +0.47 (2.90%)
After hours: 5:07PM EST
|Bid||16.21 x 900|
|Ask||16.85 x 2900|
|Day's Range||15.85 - 16.42|
|52 Week Range||15.11 - 31.39|
|Beta (3Y Monthly)||0.70|
|PE Ratio (TTM)||6.61|
|Earnings Date||Nov 21, 2019|
|Forward Dividend & Yield||0.97 (5.96%)|
|1y Target Est||16.80|
RetailMeNot data shows 80% of consumers plan to go into a physical store for gift shopping in December. Yahoo Finance's Akiko Fujita and RetailMeNot's CEO, Marissa Tarleton, discuss.
Gap Inc. earnings beat diminished expectations Thursday afternoon in the wake of a shakeup, sending shares higher in late trading. Gap had already cut its outlook for the third quarter and the year earlier this month, when it also said goodbye to Chief Executive Art Peck. On Thursday, the company reported third-quarter earnings of $140 million, or 37 cents a share, on sales of $4 billion, down from $4.09 billion a year ago. After adjusting for separation and restructuring costs, the company reported earnings of 53 cents a share, down from 68 cents a share a year ago. Analysts on average projected adjusted earnings of 51 cents a share on sales of $3.97 billion, after adjusting forecasts lower in the wake of Gap's warning. "We are not pleased with the third quarter results and are focused on aggressively addressing the operational issues that are hindering the performance of our brands," Robert Fisher, the interim CEO of Gap, said in an announcement, adding that the chain still plans to spin off Old Navy as a separate entity. Gap's stock closed with a 0.4% decline at $16.22, and has fallen more than 37% so far this year as the S&P 500 index has gained 24%. In after-hours trading Thursday, shares gained more than 3%.
Gap replaced longtime Chief Executive Officer Art Peck with Robert Fisher, a member of the founding family, as its interim head nearly two weeks ago and cut its full-year profit forecast, blaming weak traffic and operating challenges across key brands. The San Francisco-based retailer, which has long struggled to grow sales at two of its flagship brands, reported net sales that fell 2.2% to $4 billion in the third quarter ended Nov. 2, but still beat the analysts' average estimate of $3.96 billion, according to IBES data from Refinitiv. The retailer in February said it would separate its better-performing Old Navy brand, giving investors hopes that the standalone company would be able to show better results than the Gap brand.
Gap Inc. today reported diluted earnings per share of $0.37 on a reported basis, and $0.53 on an adjusted basis, excluding costs associated with the company’s planned separation, and costs related to the previously announced specialty fleet restructuring.
On Thursday, Gap (NYSE: GPS ) will release its latest earnings report. Benzinga's report can help you figure out the ins and outs of the earnings release. Earnings and Revenue Based on management's projections, ...
Investing.com - U.S. futures were down slightly as trade tensions remained in focus after reports that China has invited Washington for face-to-face talks in Beijing.
The latest retail earnings results from the likes of Home Depot. A look at what investors should expect from high-flying Target. And why Tempur Sealy (TPX) is a Zacks Rank 1 (Strong Buy) stock right now...
Today, children’s fashion brand, Janie and Jack, debuts their newest collection with celebrated fashion designer and entrepreneur, Rachel Zoe. A two-collection partnership, which launches with the Rachel Zoe x Janie and Jack Party Collection and follows with chic Resort Collection, features clothing and accessories inspired by Zoe’s iconic signature style, including gold and sparkle embellishments, texture and statement silhouettes.
Gap Inc. is scheduled to report third-quarter earnings after the closing bell on Thursday, and there could be one bit of news to come from the announcement: the company could cancel the Old Navy spin off, Wells Fargo says. Gap already announced third-quarter same-store sales declines at Old Navy, Banana Republic, and the namesake chain of stores, and cut its full-year guidance. Moreover, Art Peck, the company's chief executive, is leaving the company. "Keep in mind, when discussing the dynamics that would potentially take [the spinoff off] the table this year, management has stated that a material miss to Old Navy's plan this fiscal year would force them to at least rethink the strategy," Wells Fargo says. Not only will the low-price retailer miss, but the cost to separate the company would be about $700 million to $800 million, or about $2 per share, analysts note. "We believe that the most meaningful piece of incremental news likely to come our of their Q3 call is potentially calling off the spin - which we believe could be a positive catalyst for shares given the $700 million to $800 million of cash (the one-time spin expenses) that would re-enter the Gap enterprise value," Wells Fargo wrote. Wells Fargo rates Gap shares market perform. Gap stock is down more than 31% for 2019 to date while the S&P 500 index is up 24.5% for the period.
Neither corporate profits nor economic data have yet to corroborate the ongoing rally and rotation in U.S. stocks, so the market may be getting ahead of itself and be due for a pullback, analysts and investors told MarketWatch.
Retailers' performance over the last 2.5 months is a sign of positive market sentiment reentering the space. This sentiment will be tested next week when a wave of retail results hits the market.
Gap Inc. has opened a number of pop ups for the Hill City men's athletic gear brand and the Janie and Jack children's brand for the holiday season. Hill City will be available in seven Athleta stores on the West Coast, including on Fillmore St. in San Francisco and Old Mill District in Bend, Ore. And Janie and Jack will be available in two Banana Republic stores in New York and San Francisco. Gap shares are up 3.8% in Friday trading, but down 31% for the year to date. The S&P 500 index is up 24.2% for the period.
Gap Inc. today announced its board of directors authorized a fourth quarter fiscal year 2019 dividend of $0.2425 per share, payable on or after January 29, 2020 to shareholders of record at the close of business on January 8, 2020.
The Fisher family which launched the company 50 years ago, has had their net worth reduced by $1 billion over the past year as the company's stock continues to tumble in the face of weakening sales.
Gap (GPS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.