logo
Share SHARE
FONT-SIZE Plus   Neg

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

Gap Inc. (GPS) 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
KMG Chemicals Inc. (KMG) is likely to beat earnings per share or EPS estimates, when it reports first quarter results on December 11, after the bell. First quarter results of KMG are expected to benefit from the impact of Irma and Harvey, and early October fires in the West. Sysco Corp. is looking ahead to own 50 fully electric semi tracks to be launched by Tesla. The new electric tractors could run 500 miles on a single charging. The order from the food service distribution giant that owns more than 7000 trucks is worth up to $10 million. Patreon, the crowdfunding platform for artists, announced Wednesday a change in its payment structure that it says will help creators keep more money. Meanwhile, many are concerned that the change may discourage their patrons from pledging.
comments powered by Disqus
Follow RTT