Gap, Inc. (GPS) Tops Q2 EPS by 29c, Raises FY EPS Guidance

Gap, Inc. (NYSE: GPS) reported Q2 EPS of $0.70, $0.29 better than the analyst estimate of $0.41. Revenue for the quarter came in at $4.2 billion versus the consensus estimate of $4.12 billion.

GUIDANCE:

Gap, Inc. sees FY2021 EPS of $2.10-$2.25, versus the consensus of $1.78.

1. The company raised its reported full-year diluted earnings per share guidance to be in the range of $1.90 to $2.05. This outlook reflects charges incurred related to the divestiture of the Janie & Jack and Intermix businesses, as well as estimated charges related to strategic changes in the company’s European business. Excluding these charges, full year earnings per share on an adjusted basis are expected to be in the range of $2.10 to $2.25. The company’s full year outlook reflects the impact of expected headwinds in its global supply chain, potential inflationary pressures, and current COVID environment. The company continues to leverage the scale and strength of its advantaged platform to navigate through near-term volatility.

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

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