Gap, Inc. (GPS) PT Raised to $9.50 at BofA Securities

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Go back to Gap, Inc. (GPS) PT Raised to $9.50 at BofA Securities

Gap (GPS) stock gains after 'better than expected' results, analysts note improvement

November 18, 2022 6:46 AM EST

Gap (NYSE: GPS) stock is trading nearly 7% higher pre-market after the retailer reported stronger-than-expected earnings per share for the third quarter.

Gap posted an adjusted EPS of $0.71, which includes $0.33 income from tax benefits, to crush the consensus expecting flat earnings. Revenue came in at $4.04 billion, again better than the $3.81B consensus.

Gap also said that its comparable sales grew 1% year-over-year while online sales were up 5% YoY, now representing 39% of total revenue.

While our third quarter... More