Gap (GPS) Up On Q3 Sales & Earnings Beat, Cuts Sales View
Zacks Investment Research | Nov 21, 2019 09:23PM ET
The Gap Inc. (NYSE:GPS) reported top and bottom-line beat in third-quarter fiscal 2019, while the metrics declined on a year-over-year basis. Soft performance across all brands as well as weak traffic trends mainly impacted the results.
Nonetheless, shares of Gap rose 1.7% in the after-hours trading session on Nov 21, owing to the earnings and sales beat. In the past three months, shares of the Zacks Rank #4 (Sell) company have lost 4.1% against the industry ’s 7.4% growth.
Management lowered its sales and comparable sales (comps) view for fiscal 2019. Nevertheless, it reaffirmed the outlook for adjusted earnings per share.
Q3 Highlights
In the fiscal third quarter, Gap’s adjusted earnings of 53 cents per share surpassed the Zacks Consensus Estimate of 51 cents. However, the bottom line declined 23.2% from 69 cents registered a year ago. On a reported basis, the company delivered earnings of 37 cents per share.
The Gap, Inc. Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.