Gap 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.
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Here's What Key Metrics Tell Us About Gap (GPS) Q1 Earnings
Gap 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.