NEW YORK: Just released their third quarter earnings results, meeting earnings estimates with $0.63 reported but missed revenue expectations by $15 million.
Currently, Gap has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Gap:
- Met earnings estimates. The company posted $0.63 , meeting our Zacks Consensus Estimate of $0.63 (this number excludes $0.02 from non-recurring items).
- Missed revenue estimates. The company saw revenue figures of $3.86 billion , missing our estimate of $3.875 billion.
- Posted operating expenses of $1.03 billion for the third quarter.
- With a challenging third quarter behind us, we are sharply focused on holiday execution across all channels,” said Art Peck, chief executive officer, Gap Inc. “We are driving forward on our key strategies designed to fuel future growth. Old Navy delivered another consecutive quarter of growth. Gap has made clear progress on its transformation agenda and we look forward to introducing customers to the brand’s spring collection, which embodies elevated American style.”
- GPS was up $0.01, or 0.04%, to $25.10 as of 5:02 PM ET in after hours trading shortly after its earnings report was released.
