Even Yeezy Can't Help: JPMorgan Downgrades GAP (GPS) Shares to Neutral on Poor Q3 Results and Guidance Miss, Stock Down 20%

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Gap, Inc. (GPS) PT Lowered to $25 at BofA Securities

November 24, 2021 5:38 AM EST

BofA Securities analyst Lorraine Hutchinson lowered the price target on Gap, Inc. (NYSE: GPS) to $25.00 (from $32.00) while maintaining a Neutral rating.... More

Gap, Inc. (GPS) PT Lowered to $24 at Telsey

November 24, 2021 5:12 AM EST

Telsey analyst Dana Telsey lowered the price target on Gap, Inc. (NYSE: GPS) to $24.00 (from $33.00) while maintaining a Market Perform rating.... More

UPDATE: Gap, Inc. (GPS) PT Lowered to $20 as Morgan Stanley Sees a Show Me Story

November 24, 2021 2:37 AM EST

(Updated - November 24, 2021 9:11 AM EST)

Morgan Stanley analyst Kimberly Greenberger lowered the price target on Gap, Inc. (NYSE: GPS) to $20.00 (from $25.00) after the company's 3Q21 EPS miss was worse-than-feared and although the supply chain & inventory headwinds were well-understood, the company's "mis-execution stands out... More

Gap, Inc. (GPS) Misses Q3 EPS by 24c, Cuts FY EPS Guidance

November 23, 2021 4:17 PM EST

Gap, Inc. (NYSE: GPS) reported Q3 EPS of $0.27, $0.24 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $4.47 billion.

GUIDANCE:

Gap, Inc. sees FY2021 EPS of $1.25-$1.40, versus the consensus of $2.20.

The company now expects its reported full-year diluted earnings per share to be in the range of $0.45 to $0.60, which includes a $325 million loss on extinguishment of debt and approximately $120 million in net charges primarily related to divestitures and changes to its European operating model. Excluding these... More

Gap cuts annual forecast amid supply chain woes, shares slide 19%

November 23, 2021 4:16 PM EST

By Aditi Sebastian

(Reuters) - Gap Inc lowered its full-year forecast on Tuesday, with the apparel retailer expecting an up to $650 million hit to revenue amid supply chain disruptions that include factory closures in Vietnam and pricey air freight to ship goods.

Shares were down 19% in after-market trading.

Extended factory closures in Vietnam, Gap's top country for sourcing which accounts for 30% of its production, have led to delays in the... More