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Gap +6% on Q2 earnings beat, upside full-year guidance

Published 08/17/2017, 05:34 PM
© Reuters.  Gap +6% on Q2 earnings beat, upside full-year guidance
GAP
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  • Gap (NYSE:GPS) +6.4% AH after reporting Q2 earnings that more than doubled year-ago results while beating Wall Street expectations, and raising its 2017 earnings outlook.
  • GPS now sees FY 2017 EPS of $2.02-$2.10, above the $2.00 analyst consensus estimate and the company's earlier guidance of $1.95-$2.05.
  • For Q2, overall same-store sales rose 1% vs. a 2% decline in the year-ago period, while analysts were expecting sales to come in flat Y/Y; it was the company's third consecutive quarter of higher comparable sales.
  • By global brand, Old Navy comp sales climbed 5% vs. flat a year ago, Gap brand fell 1% vs. a 3% decline last year, and Banana Republic fell 5% vs. a 9% drop a year ago.
  • Q2 adjusted operating margin was 10.2% compared with 11.1% in the same period last year.
  • Now read: PVH Corporation: Buy The Momentum?


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