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
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Old Navy helps Gap sail through retail gloom

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/19/2017 | 01:17am CEST
A Gap Inc. retail store is shown in La Jolla

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)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GAP INC
07/25 GAP : Banana Republic Forms First-Ever Men's Style Council
07/19 GAP : Old Navy Turns Teachers into Rock Stars this Back-to-School Season in Coll..
07/17 GAP : House Education and the Workforce Committee Members - Discussion
07/11 Fashion M&A, like a crop top, is hard to pull off
06/30 GAP INC : ex-dividend day
06/29 GAP : This Way Ahead Program Doubles Participation In Its 2017 Paid Store I...
06/29 GAP INC. : ’s This Way Ahead Program Doubles Participation in its 2017 Pai..
06/10 BUSINESS BRIEFS : Gap adds 500 jobs at Gallatin, Tenn. facility
06/10 GAP : Governor Haslam, Commissioner Rolfe Announce Gap Inc. to Expand in Gallati..
06/09 GAP : to add more than 500 jobs in Tennessee
More news
News from SeekingAlpha
07/25 Retail sector puts on its rally cap
07/14 S&P 500 Dogs Look To Macy's For Top July Net Gains
07/14 Gap named top specialty retail pick at J.P. Morgan; shares +10% in two days
07/13 Retailers in recovery mode after improved Target guidance
07/11 ON SALE AT THE GAP : A Yield Above 4%
Financials ($)
Sales 2018 15 524 M
EBIT 2018 1 366 M
Net income 2018 800 M
Finance 2018 495 M
Yield 2018 3,85%
P/E ratio 2018 11,94
P/E ratio 2019 11,60
EV / Sales 2018 0,58x
EV / Sales 2019 0,57x
Capitalization 9 482 M
Chart GAP INC
Duration : Period :
Gap Inc Technical Analysis Chart | GPS | US3647601083 | 4-Traders
Technical analysis trends GAP INC
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 25,4 $
Spread / Average Target 6,1%
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 INC6.77%9 482
INDITEX SA3.67%123 012
FAST RETAILING CO LTD-20.32%31 952
ROSS STORES-17.64%21 000
L BRANDS INC-31.00%12 911
ZALANDO3.16%10 872