We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's What Key Metrics Tell Us About Gap (GPS) Q1 Earnings
Read MoreHide Full Article
Gap (GPS - Free Report) reported $3.28 billion in revenue for the quarter ended April 2023, representing a year-over-year decline of 5.8%. EPS of $0.01 for the same period compares to -$0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.29 billion, representing a surprise of -0.37%. The company delivered an EPS surprise of +105.88%, with the consensus EPS estimate being -$0.17.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Gap performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable Store Sales - Old Navy - YoY change: -1% compared to the -3.15% average estimate based on five analysts.
Comparable store sales - YoY change: -3% compared to the -3.42% average estimate based on five analysts.
Comparable Store Sales - Gap - YoY change: 1% versus the five-analyst average estimate of -1.49%.
Comparable store sales - Banana Republic - YoY change: -8% versus the five-analyst average estimate of -6.42%.
Number of Store Locations - Old Navy North America: 1252 compared to the 1246.75 average estimate based on four analysts.
Number of Store Locations - Gap - Total: 631 compared to the 724 average estimate based on four analysts.
Number of Store Locations - Banana Republic - Total: 459 versus 460.75 estimated by four analysts on average.
Number of Store Locations - Company-operated stores: 2601 compared to the 2683.25 average estimate based on four analysts.
Square Footage - Old Navy North America: 20 Msq ft versus 19.86 Msq ft estimated by three analysts on average.
Net Sales- Gap Global- Total: $692 million versus $754.17 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
Net Sales- Banana Republic Global- Total: $432 million compared to the $432.52 million average estimate based on four analysts. The reported number represents a change of -10.4% year over year.
Net Sales- Old Navy Global- Total: $1.83 billion versus $1.77 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
Shares of Gap have returned -18.5% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's What Key Metrics Tell Us About Gap (GPS) Q1 Earnings
Gap (GPS - Free Report) reported $3.28 billion in revenue for the quarter ended April 2023, representing a year-over-year decline of 5.8%. EPS of $0.01 for the same period compares to -$0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.29 billion, representing a surprise of -0.37%. The company delivered an EPS surprise of +105.88%, with the consensus EPS estimate being -$0.17.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Gap performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable Store Sales - Old Navy - YoY change: -1% compared to the -3.15% average estimate based on five analysts.
- Comparable store sales - YoY change: -3% compared to the -3.42% average estimate based on five analysts.
- Comparable Store Sales - Gap - YoY change: 1% versus the five-analyst average estimate of -1.49%.
- Comparable store sales - Banana Republic - YoY change: -8% versus the five-analyst average estimate of -6.42%.
- Number of Store Locations - Old Navy North America: 1252 compared to the 1246.75 average estimate based on four analysts.
- Number of Store Locations - Gap - Total: 631 compared to the 724 average estimate based on four analysts.
- Number of Store Locations - Banana Republic - Total: 459 versus 460.75 estimated by four analysts on average.
- Number of Store Locations - Company-operated stores: 2601 compared to the 2683.25 average estimate based on four analysts.
- Square Footage - Old Navy North America: 20 Msq ft versus 19.86 Msq ft estimated by three analysts on average.
- Net Sales- Gap Global- Total: $692 million versus $754.17 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
- Net Sales- Banana Republic Global- Total: $432 million compared to the $432.52 million average estimate based on four analysts. The reported number represents a change of -10.4% year over year.
- Net Sales- Old Navy Global- Total: $1.83 billion versus $1.77 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
View all Key Company Metrics for Gap here>>>Shares of Gap have returned -18.5% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.