Gap Inc. (GPS) announced, for the fourth quarter, the company expects reported earnings per share to be in the range of $0.54 to $0.55, or about $0.50 to $0.51 on an adjusted basis. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.45. Analysts' estimates typically exclude special items.
For the fourth quarter, Gap Inc.'s net sales increased 1 percent to $4.43 billion compared with $4.39 billion for the fourth quarter last year. Analysts polled by Thomson Reuters expect the company to report revenue of $4.4 billion. Gap Inc.'s comparable sales for the fourth quarter were up 2 percent. For the four-week period ended January 28, 2017, net sales increased 2 percent to $828 million compared with net sales of $813 million for the four-week period ended January 30, 2016.
For fiscal 2016, the company now expects reported earnings per share to be in the range of $1.68 to $1.69. On an adjusted basis, Gap Inc. now expects 2016 adjusted earnings per share to be in the range of $2.01 to $2.02. Analysts expect the company to report profit per share of $1.96. Gap Inc. will release its earnings results on February 23, 2017.
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