Gap (GPS) October Comps Rise 4%, Guides Above the Street
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Gap Inc. (NYSE: GPS) comparable store sales for October increased 4 percent compared with a 16 percent decrease for October 2008.
Net sales were $1.14 billion for the four-week period ended October 31, 2009, which is an increase of 5 percent as compared with net sales of $1.08 billion for the same period ended November 1, 2008.
Gap now expects diluted earnings per share for the third quarter of fiscal year 2009 to be $0.42 to $0.44 compared with $0.35 for the third quarter last year. This exceeds the current First Call estimate of $0.38.
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