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    GPS

GAP (GPS)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Old Navy helps Gap sail through retail gloom

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/18/2017 | 07:17pm EDT
A Gap Inc. retail store is shown in La Jolla

(Reuters) - Gap Inc reported a surprise rise in quarterly same-store sales, bucking the trend of dismal results in the U.S. retail industry, as the company benefited from the robust performance at its Old Navy brand.

The company's shares were up 4.5 percent at $24.24 in after-market trading on Thursday.

Comparable sales at the low-cost Old Navy brand jumped 8 percent in the first quarter ended April 29, handily beating the 2.2 percent rise estimated by Consensus Metrix.

The brand reported a 6 percent drop in same-store sales a year earlier.

Old Navy, the company's biggest brand by revenue, has been a bright spot, posting its fifth consecutive year of sales growth in 2016.

"Old Navy has a very significant penetration of millennial customers that are engaged in that brand," Chief Executive Art Peck said on an earnings call with analysts.

Peck also remained bullish on the company's 'Athleisure' brand, Athleta, calling it an "exceptional performer".

Gap has been looking to replicate its success with the Old Navy at its Banana Republic and namesake brands.

Comparable sales at Banana Republic fell 4 percent, compared with an 11 percent drop a year earlier. Analysts had expected a decline 4.2 percent, according to Consensus Metrix.

"All of our brands executed well over the important Easter selling season, particularly at Old Navy, which tends to realise outsized impacts over key holiday period," Chief Financial Officer Teri List-Stoll said during the call.

The company's same-store sales rose 2 percent in the latest quarter. Analysts on average had expected a 0.2 percent fall, according to Consensus Metrix.

Gap's results come amid a gloomy retail environment with department stores such as Macy's Inc and J.C. Penney Co Inc and apparel retailers including Ralph Lauren Corp and American Eagle Outfitters Inc reporting disappointing results.

"The result was delivered in a tough market is an achievement," GlobalData Retail Managing Director Neil Saunders said.

However, Saunders raised concerns about the company's dependence on Old Navy.

"Outside of this powerhouse of growth, the company's other brands fared far less well...This imbalance means that Gap is firing on just one cylinder," he said.

Gap on Thursday backed its 2017 comparable sales forecast of flat to up slightly.

Net income rose to $143 million (110.43 million pounds), or 36 cents per share, in the quarter from $127 million, or 32 cents per share, a year earlier.

Revenue was flat at $3.44 billion. The company said the strong dollar impacted the quarter's revenue by about $11 million.

Analysts on average had expected a profit of 29 cents per share and revenue of $3.39 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Anil D'Silva and Sriraj Kalluvila)

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EAGLE OUTFITTERS 2.52% 25.26 Delayed Quote.31.06%
J C PENNEY COMPANY INC 0.00% 2.76 Delayed Quote.-11.71%
MACY'S -0.76% 39.32 Delayed Quote.57.28%
RALPH LAUREN CORP -2.46% 135.09 Delayed Quote.33.57%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GAP
06/13GAP : names former CEO of Billabong as new head of brand
AQ
06/13GAP INC : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
AQ
06/13GAP INC. : Appoints New Global Head of Gap Brand
BU
06/08GAP : Segment Named a Gartner Cool Vendor in Application Architecture, Infrastru..
AQ
06/04GAP INC : Change in Directors or Principal Officers, Financial Statements and Ex..
AQ
06/04GAP : Employees Celebrate Long-Standing History Of Equality At Store And Comm...
PU
06/04GAP INC. : Employees Celebrate Long-Standing History of Equality at Store and Co..
BU
06/04GAP : Report
CO
06/01GAP INC : Entry into a Material Definitive Agreement (form 8-K)
AQ
06/01GAP : Management's Discussion and Analysis of Financial Condition and Results of..
AQ
More news
News from SeekingAlpha
06/19Mall stocks on watch after strong data read 
06/14Retail sales winners and losers 
06/13Gap names former Billabong, Eddie Bauer CEO Fiske to lead Gap brand 
06/05Solid gains in the mall sector 
06/04BY THE NUMBERS : Investing Ideas Based On Profitability, Value, And Momentum 
Financials ($)
Sales 2019 16 569 M
EBIT 2019 1 395 M
Net income 2019 999 M
Finance 2019 512 M
Yield 2019 2,92%
P/E ratio 2019 12,78
P/E ratio 2020 12,07
EV / Sales 2019 0,73x
EV / Sales 2020 0,71x
Capitalization 12 604 M
Chart GAP
Duration : Period :
Gap Technical Analysis Chart | GPS | US3647601083 | 4-Traders
Technical analysis trends GAP
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 32,3 $
Spread / Average Target -2,3%
EPS Revisions
Managers
NameTitle
Arthur L. Peck President, Chief Executive Officer & Director
Bob J. Fisher Non-Executive Chairman
Teri L. List-Stoll EVP, Chief Financial Officer & Accounting Officer
Sally Gilligan Chief Information Officer
Mayo A. Shattuck Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GAP-2.88%12 604
INDITEX - INDUSTRIA DE DISEÑO TEXTIL1.36%106 143
KERING22.49%72 047
FAST RETAILING CO LTD16.13%49 629
ROSS STORES5.86%31 987
ZALANDO5.23%13 221