Gap Inc. (GPS) reported that its comparable store sales for January 2010 were up five percent compared with a 23% decrease in January 2009. Net sales increased five percent to $798 million from $757 million last year.
For the thirteen weeks ended January 30, 2010, total company net sales were $4.24 billion, which is an increase of 4% as compared with net sales of $4.08 billion for the thirteen weeks ended January 31, 2009. The company's fourth quarter comparable store sales increased 2% compared with a decrease of 14% in the fourth quarter of the prior year.
The company expects earnings per share for the fourth quarter of fiscal year 2009 to be $0.49 to $0.51, which is an increase of about 50 percent compared with $0.34 for the fourth quarter last year. Analysts polled by Thomson Reuters expect the company to report earnings of $0.44 per share. Analysts' estimates typically exclude special items.
The company said that expected fourth quarter earnings per share includes about a $0.01 benefit from the Visa / Mastercard settlement the company received in December 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.