Gap, Inc. (GPS) Reports In-Line Q4 EPS, Guides FY16 EPS Below the Street

Gap, Inc. (NYSE: GPS) reported Q4 EPS of $0.57, in-line with the analyst estimate of $0.57. Revenue for the quarter came in at $4.39 billion versus the consensus estimate of $4.46 billion.

Comparable Sales Results

The company’s fourth quarter fiscal year 2015 comparable sales were down 7 percent versus positive 2 percent last year. For fiscal year 2015, the company’s comparable sales were down 4 percent versus flat last year. Comparable sales by global brand for fiscal year 2015 were as follows:

• Gap Global: negative 6 percent versus negative 5 percent last year
• Banana Republic Global: negative 10 percent versus flat last year
• Old Navy Global: flat versus positive 5 percent last year

GUIDANCE:

Gap, Inc. sees FY2016 EPS of $2.20-$2.25, versus the consensus of $2.42.

“With a year of transition behind us, I’m confident that we have the right strategies in place to fuel our long-term growth,” said Art Peck, chief executive officer, Gap Inc. “We made significant progress in 2015 transforming our product operating model, enabling us to be more responsive to trends and market conditions, and consistently deliver on-brand product collections.”

Peck continued, "Our brands are strengthening their connections with customers through digital, and especially mobile, enhancements that create richer experiences whether shopping online or in stores, or any combination of channels."

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

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