Gap Inc. Reports April and First Quarter Sales Results
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Sterne Agee CRT Remains Sidelined Following Gap, Inc. (GPS) Comp Miss
May 12, 2015 10:03 AM EDTGap, Inc. (NYSE: GPS)
maintains a Neutral rating on Gap, Inc. (NYSE: gps), and lowered the price target to $38.00 (from $41.00), after GPS misses comps. GPS posted April comps of -12%, well below the Street's -7% estimate. The company was able to hit the Street's EPS estimate of ($0.02).
Sterne Agee CRT analyst, Ike... More
Gap (GPS) PT Cut to $34 at Credit Suisse
May 12, 2015 7:43 AM EDTCredit Suisse analyst C. Buss reiterated an Underperform rating and cut its price target on Gap, Inc. (NYSE: GPS) to $34.00 (from $35.00) after weak April comps.
For an analyst ratings summary and ratings history on Gap, Inc.... More
FBR Capital Downgrades Gap, Inc. (GPS) to Market Perform Following Weak Comps
May 12, 2015 6:15 AM EDTFBR Capital downgraded Gap, Inc. (NYSE: GPS) from Outperform to Market Perform with a price target of $40.00 (from $48.00), saying accelerating weakness as Gap likely pushes the gross margin opportunity out.
Analyst Susan Anderson commented, "Our upgrade thesis was predicated upon the substantial gross margin opportunity, in part driven by consistent AUR progress and continued inventory discipline. However, the Gap segment appears to be decelerating at a faster pace than we anticipated (15% 1Q15... More
Gap, Inc. (GPS) April Comps Fell 12%
May 11, 2015 4:01 PM EDTGap, Inc. (NYSE: GPS) reported that April net sales were $1.21 billion for the four-week period ended May 2, 2015, compared with net sales of $1.33 billion for the four-week period ended May 3, 2014. For the first quarter of fiscal year 2015, Gap Inc.s net sales decreased 3 percent to $3.66 billion compared with $3.77 billion for the first quarter last year.
The translation of net sales in foreign currencies into U.S. dollars negatively impacted the companys reported sales for the first quarter of fiscal year 2015 by about $90 million, primarily due to the weakening Japanese yen and Canadian... More
