Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Gap Inc    GPS

GAP INC (GPS)
Mes dernières consult.
Most popular
Report
Delayed Quote. Delayed  - 11/24 05:40:34 pm
29.92 USD   +2.57%
11/16 GAP : quarterly profit grows 12 percent as sales improve
11/16 GAP : beats Street 3Q forecasts
11/16 GAP INC. : Reports Third Quarter Results
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Gap shares rise as Old Navy again boosts results, forecast

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/18/2017 | 12:22am CET
FILE PHOTO -  Logo of GAP clothing retailer is seen at company's store at Tbilisi Mall in Tbilisi

Clothing retailer Gap Inc (>> Gap Inc) reported better-than-expected second-quarter results and raised its full-year profit forecast, helped by strong demand for Old Navy products, fewer discounts and better managing inventory.

Clothing retailer Gap Inc (>> Gap Inc) reported better-than-expected second-quarter results and raised its full-year profit forecast, helped by strong demand for Old Navy products, fewer discounts and better managing inventory.

The company's shares rose nearly 6 percent in trading after the bell on Thursday.

Gap's same-store sales increased 1 percent in the three months ended July 29, rising for the third straight quarter. Analysts were expecting sales to be flat year-over-year, according to research firm Consensus Metrix.

The results mirror a trend among U.S. retailers: department stores such as Macy's Inc (>> Macy's Inc) and J.C. Penney Co Inc (>> J C Penney Company Inc) have struggled, while apparel retailers like Ralph Lauren Corp (>> Ralph Lauren Corp) and Urban Outfitters (>> Urban Outfitters, Inc.) have benefited as they better managed inventory and gave fewer discounts.

Since becoming Gap's chief executive in 2015, Art Peck has reinvigorated the Old Navy brand, its biggest revenue contributor, through celebrity tie-ups, social media campaigns and better styles – dresses, pants, mid-tops and shorts did well in the latest quarter.

Same-store sales at Old Navy rose 5 percent, beating analysts' estimate of 3.1 percent. Old Navy's sales have now risen in seven of the past ten quarters, a bright spot for the company as its Gap and Banana Republic brands struggle.

Peck has also focussed on Gap's supply chain, taking a leaf out of the book of fast-fashion retailers such as Zara and H&M, by reducing the time taken to bring latest fashion from the ramp to stores.

Peck on Thursday held up the swift turnaround time at Athleta, its active wear brand, as an example of initiatives that have driven double-digit growth in the brand this year.

"Athleta now has more than half of its bottoms business on responsive. And by responsive, I mean back in the styles in 8 weeks or less," Peck said in a post-earnings call.

The Gap brand recorded its smallest drop in same-store sales the past 10 quarters, but Banana Republic's sales fell more than expected.

The company's total revenue fell 1.4 percent to $3.799 billion (2.95 billion pounds), edging past analysts' estimate of $3.77 billion, according to Thomson Reuters I/B/E/S.

Gap's net income more than doubled to $271 million, helped by an insurance-related gain and year-ago restructuring costs.

Excluding the insurance-related gain, Gap's profit of 58 cents per share easily beat analysts' estimate of 52 cents.

Gap raised its adjusted profit forecast for fiscal 2017 to $2.02 to $2.10 per share from $1.95 to $2.05.

(Reporting by Gayathree Ganesan in Bengaluru; Editing by Savio D'Souza)

By Gayathree Ganesan

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GAP INC
11/22 GAP : Management's Discussion and Analysis of Financial Condition and Results of..
11/17 GAP INC : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
11/16 GAP : quarterly profit grows 12 percent as sales improve
11/16 GAP INC : Results of Operations and Financial Condition, Financial Statements an..
11/16 GAP : beats Street 3Q forecasts
11/16 GAP INC. : Reports Third Quarter Results
11/15 GAP : Appoints chris o'neill to its board of directors; evernote ceo brings more..
11/14 GAP INC. : Appoints Chris O'Neill to Its Board of Directors
11/13GAP INC : quaterly earnings release
11/13 GAP : Announces fourth quarter dividend
More news
News from SeekingAlpha
10:34a Mall names jump on Black Friday
11/22 BATTLE OF THE BLEEDING TITANS PART I : Omega Healthcare Vs. Tanger Factory Outle..
11/18 Stocks to watch next week
11/18 The Week That Was In Review - November 16, 2017
11/17 Jefferies expects momentum to continue for Gap
Financials ($)
Sales 2018 15 709 M
EBIT 2018 1 392 M
Net income 2018 840 M
Finance 2018 522 M
Yield 2018 3,17%
P/E ratio 2018 13,76
P/E ratio 2019 13,63
EV / Sales 2018 0,69x
EV / Sales 2019 0,69x
Capitalization 11 343 M
Chart GAP INC
Duration : Period :
Gap Inc Technical Analysis Chart | GPS | US3647601083 | 4-Traders
Technical analysis trends GAP INC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 28
Average target price 28,2 $
Spread / Average Target -3,2%
EPS Revisions
Managers
NameTitle
Arthur L. Peck Chief Executive Officer & Director
Bob J. Fisher Non-Executive Chairman
Teri L. List-Stoll Chief Financial Officer & Executive Vice President
Paul Joseph Chapman Chief Information Officer & Executive VP
Mayo A. Shattuck Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GAP INC29.99%11 343
INDITEX SA-9.73%108 094
FAST RETAILING CO LTD-2.89%38 623
ROSS STORES10.21%27 878
L BRANDS INC-25.88%13 852
ZALANDO16.53%12 394