UPDATE: Gap, Inc. (GPS) Misses Q3 EPS by 2c; Trims FY15 EPS Outlook

Gap, Inc. (NYSE: GPS) reported Q3 EPS of $0.61, $0.02 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $3.86 billion versus the consensus estimate of $3.9 billion.

Gap Inc.’s comparable sales for the third quarter of fiscal year 2015 were down 2 percent versus a 2 percent decrease last year. Comparable sales by global brand for the third quarter were as follows:

• Gap Global: negative 4 percent versus negative 5 percent last year
• Banana Republic Global: negative 12 percent versus flat last year
• Old Navy Global: positive 4 percent versus positive 1 percent last year

Guidance:

The company updated its adjusted diluted earnings per share guidance for the full fiscal year 2015 to be in the range of $2.38 to $2.42 and now expects its adjusted operating margin to be about 10.5 percent in fiscal year 2015.

*** The Street sees FY15 EPS of 2.50.

For earnings history and earnings-related data on Gap, Inc. (GPS) click here.

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