Gap (GPS) Sees Q2 EPS, Sales Above the Street

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Gap Inc. (NYSE: GPS) sees second quarter EPS of $0.47 to $0.48, versus the consensus of $0.38.

Net sales for the second quarter, which ended July 28, 2012, increased 6 percent to $3.58 billion. The consensus was $3.51 billion.

Second Quarter Comparable Sales Results

Comparable sales for the second quarter of fiscal year 2012 were as follows:

• Gap North America: positive 7 percent versus negative 3 percent last year
  
• Banana Republic North America: positive 7 percent versus negative 2 percent last year
  
• Old Navy North America: positive 3 percent versus flat last year
  
• International: negative 5 percent versus negative 4 percent last year
  

Comparable sales for July 2012 were as follows:

• Gap North America: positive 13 percent versus negative 6 percent last year
  
• Banana Republic North America: positive 8 percent versus negative 4 percent last year
  
• Old Navy North America: positive 12 percent versus negative 3 percent last year
  
• International: positive 4 percent versus negative 10 percent last year

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