Back to top

Gap (GPS) Misses Q1 Earnings Estimates, Comps Up 1%

Read MoreHide Full Article

Gap (GPS - Free Report) just released its first-quarter financial results, posting adjusted earnings of $0.42 per share and revenues of $3.78 billion.

Gap is currently a Zacks Rank #4 (Sell), which is subject to change based on today’s results. Shares of Gap are up 44% over the last year and have climbed 6.9% in the last four weeks. The company’s stock also popped 3.10% on Thursday to hit $32.97 per share prior to the release of its quarterly earnings results.

Gap stock is currently down 7.59% to $30.45 per share in after-hours trading shortly after its earnings report was released.


Missed earnings estimates. The company posted adjusted earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.45 per share.   

Beat revenue estimates. The company saw revenue figures of $3.78 billion, topping our consensus estimate of $3.61 billion.

Gap saw its quarterly revenues climb by roughly 6% from $3.44 billion in the year-ago period. Meanwhile, the company’s comparable store sales climbed just 1%. Diving deeper, Old Navy Global comps popped 3%, while Gap brand same-store sales sank 4%.

Looking ahead, Gap affirmed its full-year earnings guidance to come in between $2.55 and $2.70 per share. The company also continues to expect comp sales to come in flat to up slightly.

Here’s a graph that looks at GPS’ Price, Consensus and EPS Surprise history:

The Gap, Inc. Price, Consensus and EPS Surprise

The Gap, Inc. Price, Consensus and EPS Surprise | The Gap, Inc. Quote

Check back later for our full analysis on GPS’ earnings report!

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

The Gap, Inc. (GPS) - free report >>

More from Zacks Stocks in the News

You May Like