Gap, Inc.

NYSE:GPS  
24.35
+0.15 (+0.62%)
4:00:00 PM EDT: $24.33 -0.02 (-0.08%)
Earnings Announcements

Barclays Announces Acquisition Of $3.8Bn Gap Credit Card Portfolio

Published: 08/27/2021 08:38 GMT
Gap, Inc. (GPS) - Barclays Plc - Acquisition of $3.8bn Gap Credit Card Portfolio.
Barclays - Under Terms of Agreement With Synchrony Bank, As at June 2021 Consideration for Portfolio Would Have Been Approximately $3.9 Billion.
Barclays - Exact Size of Portfolio and Consideration Payable Will Depend on Movements in Portfolio Up to Completion.
Barclays - Agreement With Synchrony Bank to Acquire a Portfolio of U.S. Co-branded and Private Label Credit Card Accounts.
Barclays - Acquisition is Estimated to Reduce Barclays' Cet1 Ratio by Approximately 20bps Upon Completion in Q2 2022.
Barclays - Delaware Will Issue Co-branded and Private Label Credit Cards in U.S. to Gap Customers Beginning in Q2 2022.
Barclays - Acquisition, Which is Being Financed From Barclays' Existing Resources, is Estimated to Reduce Barclays' Cet1 Ratio by Approximately 20bps.
Barclays - Acquisition Being Financed From Barclays' Existing Resources.
Revenue is expected to be $4.47 Billion
Adjusted EPS is expected to be $0.52

Next Quarter Revenue Guidance is expected to be $5.14 Billion
Next Quarter EPS Guidance is expected to be $0.51

More details on our Analysts Page.