Gap, Inc. (GPS) Reports In-Line Q3 EPS
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Gap, Inc. (NYSE: GPS) reported Q3 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.74 billion.
Gap Inc.’s comparable sales for the third quarter of fiscal year 2016 were down 3 percent, including an estimated negative impact from the Fishkill distribution center fire of approximately 2 percentage points, versus a 2 percent decrease last year.
“I’m pleased to see improved product across our brands, as well as areas of healthier merchandise margins, even against the backdrop of challenging traffic trends during the quarter,” said Art Peck, chief executive officer, Gap Inc.
“As we move into the holiday season, our teams are sharply focused on execution and delivering great experiences across the portfolio,” Peck continued. “Looking forward, we remain dedicated to utilizing our scale advantage in supply chain, as well as through knowledge sharing, in order to drive product innovation across brands and categories.”
For earnings history and earnings-related data on Gap, Inc. (GPS) click here.
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