Gap, Inc. (GAP) Tops Q2 EPS by 13c

(Updated - August 29, 2024 9:24 AM EDT)

Gap, Inc. (NYSE: GAP) reported Q2 EPS of $0.54, $0.13 better than the analyst estimate of $0.41. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.63 billion.

Fiscal 2024 Full Year and Third Quarter Outlook

METRIC FY 2024 OUTLOOK

• METRIC Q3 2024 OUTLOOK Net sales Up slightly year-over-year
• Gross margin 50 to 75 bps expansion vs 41.3% LY
• Operating expense Approximately $5.1 billion
• Operating income Mid to High 50% growth range vs $606 million LY (2
• Effective tax rate Approximately 28%
• Capital expenditures Approximately $500 million

METRIC Q3 2024 OUTLOOK

• Net sales Up slightly year-over-year
• Gross margin 50 to 75 bps expansion vs 41.3% LY
• Operating expense Approximately $1.3 billion

(Note: changing its ticker symbol from "GPS" to "GAP")

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

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