Gap, Inc. (GPS) Tops Q2 EPS by 6c, FY EPS Guidance Tops Consensus

(Updated - August 17, 2017 4:19 PM EDT)

Gap, Inc. (NYSE: GPS) reported Q2 EPS of $0.58, $0.06 better than the analyst estimate of $0.52. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.77 billion.

Gap Inc.’s comparable sales for the second quarter of fiscal year 2017 were up 1 percent versus a 2 percent decrease last year. Comparable sales by global brand for the second quarter were as follows:

• Old Navy Global: positive 5 percent versus flat last year
• Gap Global: negative 1 percent versus negative 3 percent last year
• Banana Republic Global: negative 5 percent versus negative 9 percent last year

GUIDANCE:

Gap, Inc. sees FY2017 EPS of $2.02-$2.10 vs consensus of $2.00

Comparable and Net Sales

• The company continues to expect comparable sales for fiscal year 2017 to be flat to up slightly.
• Net sales for fiscal year 2017 are expected to be slightly below this range driven by an expected negative impact from foreign currency fluctuations year-over-year as well as the impact from international closures in fiscal year 2016.

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

You May Also Be Interested In

• Iridium Communications (IRDM) Reports In-Line Q1 EPS; offers outlook
• Ally Financial (ALLY) Tops Q1 EPS by 11c, Beats on Revenue
• MYT Netherlands Parent B.V. (MYTE) Announces Preliminary Third Quarter Results – Double-Digit Topline Growth Significantly Improved Profitability