Gap, Inc. (GPS) Posts Q2 GAAP EPS of 74c; Boosts FY14 EPS Outlook

Gap, Inc. (NYSE: GPS) reported Q2 EPS of $0.74, $0.05 better than the analyst estimate of $0.69. Revenue for the quarter came in at $3.98 billion versus the consensus estimate of $3.97 billion.

EPS includes $0.05 gain on an asset sale. Excluding the gain, EPS came in flat at $0.69.

Second Quarter Comparable Sales Results

The company’s second quarter comparable sales were flat compared with a 5 percent increase in the second quarter of last year. Comparable sales by global brand for the second quarter of fiscal year 2014 were as follows:

• Gap Global: negative 5 percent versus positive 6 percent last year
• Banana Republic Global: flat versus negative 1 percent last year
• Old Navy Global: positive 4 percent versus positive 6 percent last year

Gap, Inc. sees FY2014 EPS of $2.95-$3.00, versus the consensus of $2.95.

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

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