Gap, Inc. (GPS) Tops Q3 EPS by 1c, Comps Flat, Updates Guidance

Gap, Inc. (NYSE: GPS) reported Q3 EPS of $0.69, $0.01 better than the analyst estimate of $0.68. Revenue for the quarter came in at $4.1 billion versus the consensus estimate of $4 billion.

On this basis, the company’s third quarter comparable sales were flat compared with a 3% increase last year. Comparable sales by global brand for the third quarter were as follows:

• Old Navy Global: positive 4% versus positive 4% last year
• Gap Global: negative 7% versus positive 1% last year
• Banana Republic Global: positive 2% versus negative 1% last year

GUIDANCE:

Gap, Inc. sees FY2018 EPS of $2.55-$2.60, versus the consensus of $2.56.

• The company continues to expect comparable sales for fiscal year 2018 to be flat to up slightly.

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

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