Gap, Inc. (GPS) Tops Q2 EPS by 1c; Guides FY16 EPS Below Views

Gap, Inc. (NYSE: GPS) reported Q2 EPS of $0.60, $0.01 better than the analyst estimate of $0.59. Revenue for the quarter came in at $3.85 billion versus the consensus estimate of $3.79 billion.

Second Quarter 2016 Comparable Sales Results

Gap Inc.’s comparable sales for the second quarter of fiscal year 2016 were down 2 percent versus a 2 percent decrease last year. Comparable sales by global brand for the second quarter were as follows:

• Gap Global: negative 3 percent versus negative 6 percent last year
• Banana Republic Global: negative 9 percent versus negative 4 percent last year
• Old Navy Global: flat versus positive 3 percent last year

GUIDANCE:

Gap, Inc. sees FY2016 EPS of $1.87-$1.92, versus the consensus of $1.96.

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

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