logo
Share SHARE
FONT-SIZE Plus   Neg

Gap July Same-store Sales Up 2%; Guides Q2 EPS Above Consensus

Gap Inc. (GPS: Quote) said Thursday that its same-store sales increased 2% in July.

For July, same-store sales fell 2% at the company's namesake stores, while it rose 6% at Banana Republic stores and rose 3% at Old Navy stores.

Net sales for the four-week period ended August 2, 2014 increased 5% to $1.17 billion from $1.12 billion for the four-week period ended August 3, 2013.

For the second quarter, same-store sales were flat, while net sales increased 3% to $3.98 billion from $3.87 billion for the second quarter of last year.

The company said it expects second quarter earnings to be in the range of $0.73 to $0.74 per share, which includes a benefit of about $0.05 per share from a gain on the sale of a building owned but not occupied by the company. Excluding the benefit, the company expects its adjusted second quarter earnings to be $0.68 to $0.69 per share.

Analysts polled by Thomson Reuters currently expect the company to earn $0.66 per share on revenue of $3.96 billion for the second quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Chipotle Mexican Grill Inc. (CMG) on Monday reported a surge in profit for the first quarter, as revenues climbed 20 percent on new restaurant openings and strong same-restaurant sales. Earnings for the quarter trounced Wall Street expectations, but revenues fell short of estimates, hurt largely... Yahoo reported a plunge in profit, hurt by lower prices for display ads as well as one-time charges. Its results fell short of Street estimates, denoting the challenges CEO Marissa Mayer faces in implementing her turnaround plans at the Internet company. Amgen Inc. (AMGN) on Tuesday reported a surge in profit for the first quarter, as revenues grew 11 percent on better pricing and strong demand with research costs falling. Both earnings and revenues for the quarter trumped analysts' estimates. Moving ahead, the drug maker raised its outlook for the full...
comments powered by Disqus
RELATED NEWS
Trade GPS now with 
Follow RTT