Gap, Inc. (GPS) March Comps Fell 6%; FY14 EPS Outlook Reaffirmed
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Gap (GPS) April Sales Could See Upside on Holiday Shift; Stifel Maintains 'Buy' Rating
April 11, 2014 7:34 AM EDTStifel maintains its Buy rating and $48 target price on Gap, Inc. (NYSE: GPS) following March sales results issued Thursday night. The retailer reported net sales of $1.51 billion for the five-week period ended April 5, 2014, and comparable sales for March 2014 were down 6 percent versus a 1 percent decrease last year.
Analyst Richard Jaffe was looking for a 4 percent drop in comps for March, while the Street consensus was calling fora 3.3 percent... More
Janney Montgomery Scott Downgrades Gap, Inc. (GPS) to Neutral
April 11, 2014 6:22 AM EDTJanney Montgomery Scott downgraded Gap, Inc. (NYSE: GPS) from Buy to Neutral with a fair value target of $41.00.
Analyst Adrienne Tennant cited 1) inventory that continues to grow faster than sales, thereby resulting in ongoing margin pressure (see Inventory Analysis on page 5); 2) ongoing deeper year-over-year... More
