Gap, Inc.

NYSE:GPS  
16.71
+0.41 (+2.52%)
Other Pre-Announcement

Gap Inc Reports Qtrly Net Sales $3.94 Billion Versus $3.99 Billion

Published: 11/23/2021 21:31 GMT
Gap, Inc. (GPS) - Qtrly Net Sales $3.94 Billion Versus $3.99 Billion.
Qtrly Loss per Share $0.40; Qtrly Non-GAAP Earnings per Share $0.27.
Q3 Earnings per Share View $0.50, Revenue View $4.44 Billion -- Refinitiv Ibes Data (analyst estimates).
Qtrly Online Sales Grew 48% Versus Q3 2019 and Represented 38% of the Total Busines.
Sees FY Earnings per Share in the Range of $0.45 to $0.60.
Sees FY Adjusted Earnings per Share in the Range of $1.25 to $1.40.
Now Expects FY Revenue Growth to Be About 20% Versus Fiscal Year 2020.
FY Earnings per Share View $2.20, Revenue View $17.72 Billion -- Refinitiv Ibes Data (analyst estimates).
Qtrly Old Navy Net Sales Were Up 8% Versus 2019; Qtrly Gap Net Sales Declined 10% Versus 2019.
Qtrly Comparable Sales Were Up 5% Versus 2019.
Global Supply Chain Disruption, Including Covid-related Factory Closures, Continued Port Congestion,caused Significant Product Delays in Q3.
Meaningfully Reduced Inventory Positions Throughout Quarter Negatively Impacted Sales As Brands Were Unable to Fully Meet Strong Consumer Demand.
Leveraging Increased Air Freight, Port Diversification to Navigate Ongoing Delivery Challenges for Holiday.
Qtrly Banana Republic Net Sales Declined 18% Versus 2019; Qtrly Athleta Net Sales Were Up 48% Versus 2019.
Further Company Coverage: .
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