Gap (GPS) Jan Comps Down 2%; Ups EPS Views
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Gap Inc. (NYSE: GPS) said comparable store sales for January 2008 decreased 2 percent compared with flat comparable store sales for January 2007.
The company reported nnet sales of $932 million for the four-week period ended February 2, 2008. Net sales for the five-week period ended February 3, 2007 were $1.19 billion.
The company revised its guidance for fiscal year 2007 diluted earnings per share on a GAAP basis to $1.03 to $1.05 from its previous guidance of $0.92 to $0.98. Excluding about $0.07 per diluted share of expenses associated with the company’s cost reduction initiatives and discontinued operation of Forth & Towne, the company expects diluted earnings per share for fiscal year 2007 to be $1.10 to $1.12. The consensus is $1.04.
The company reported nnet sales of $932 million for the four-week period ended February 2, 2008. Net sales for the five-week period ended February 3, 2007 were $1.19 billion.
The company revised its guidance for fiscal year 2007 diluted earnings per share on a GAAP basis to $1.03 to $1.05 from its previous guidance of $0.92 to $0.98. Excluding about $0.07 per diluted share of expenses associated with the company’s cost reduction initiatives and discontinued operation of Forth & Towne, the company expects diluted earnings per share for fiscal year 2007 to be $1.10 to $1.12. The consensus is $1.04.
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