Gap Analysts Boost Their Forecasts Following Earnings Beat

by

in

The Gap, Inc. (NYSE: GPS) reported stronger-than-expected financial results for its fourth quarter on Thursday.

Gap said fourth-quarter revenue increased 1% year-over-year to $4.30 billion, which beat the consensus estimate of $4.22 billion, according to Benzinga Pro. The company reported quarterly earnings of 49 cents per share, significantly improved from a loss of 75 cents in the prior year’s quarter. The company’s bottom-line results came in ahead of estimates of 23 cents per share.

“The fourth quarter exceeded expectations on several key metrics along with market share gains, reflecting improved trends at Old Navy and Gap and strong continued progress on margins and cash flow,” said Richard Dickson, president and CEO of Gap. “The financial and operational rigor we have worked to develop, and will …

Full story available on Benzinga.com


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *