Retail giant Gap Inc (NYSE:GPS) yesterday announced better-than-expected fourth-quarter profits of 49 cents per share on $4.3 billion. The company attributed the results to lower markdowns and strong demand for its Old Navy products during the holiday season. At last check, GPS is up 4.4% at $20.17.In response, six analysts raised their price target, including Barclays to $28 from $26. More tailwinds could stem from a round of upgrades, as 10 of 15 brokerage firms in coverage call GPS a "hold" or worse. The ...

Gap Inc (NYSE:GPS). shares jumped around 5% after hours on Thursday after it posted better-than-expected earnings for the crucial holiday quarter, driven by the long-awaited return to form of the Old Navy chain. EPS for the three months ended December 31 were 49 cents, more than double the Street's figure of 23 cents, while revenue was $4.3 billion. Despite a slight overall sales increase to $4.3 billion, the retailer experienced flat comparable sales, with a mix of a 4% increase in in-store sales and a 2% ...

The Gap, Inc. (NYSE:GPS) Q4 2023 Earnings Conference Call March 7, 2024 5:00 PM ET Company Participants Emily Gacka - Director, Investor Relations Richard Dickson - Chief Executive Officer Katrina O'Connell - Chief Financial Officer Conference Call Participants Adrienne Yih - Barclays Bob Drbul - Guggenheim Securities Ike Boruchow - Wells Fargo Matthew Boss - J.P. Morgan Michael Binetti - Evercore ISI Lorraine Hutchinson - Bank of America Brooke Roach - Goldman Sachs Alex Straton - Morgan Stanley Operator G ...

Gap (GPS) reported $4.3 billion in revenue for the quarter ended January 2024, representing a year-over-year increase of 1.3%. EPS of $0.49 for the same period compares to -$0.75 a year ago.The reported revenue represents a surprise of +2.03% over the Zacks Consensus Estimate of $4.21 billion. With the consensus EPS estimate being $0.20, the EPS surprise was +145.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

Gap Inc. Fiscal 2023 F O UR T H QUA R T E R RE S ULT S Forward Looking Statements / Non-GAAP Financial Measures FOR W AR D L OOK I NG S T AT EMENT S This conference call and webcast contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Forward- looking statements include statements identified as such in our March 7, 2024, earnings press release. ...

Gap (GPS) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to loss of $0.75 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 145%. A quarter ago, it was expected that this clothing chain would post earnings of $0.20 per share when it actually produced earnings of $0.59, delivering a surprise of 195%.Over the last four quarters, the company has surpassed ...

In this articleGPSA general view of an Old Navy store. Gap Inc.Gap's largest banner Old Navy returned to growth for the first time in more than a year during its holiday quarter as the retailer delivered earnings on Thursday that came in well ahead of Wall Street's expectations. Sales at Old Navy grew 6% to $2.29 billion, and Gap's overall gross margin surged 5.3 percentage points to 38.9% thanks to fewer markdowns and lower input costs. Analysts had expected a gross margin of 36%, according to StreetAccoun ...

Fourth Quarter Net Sales Increased with Market Share Gains Fourth Quarter Operating Margin Expansion Reflects Continued Financial and Operational Rigor  Full Year Operating Cash Flow of $1.5 Billion; Ended Fiscal Year with Cash Balance of $1.9 Billion SAN FRANCISCO, March 7, 2024 /PRNewswire/ -- Gap Inc. (NYSE: GPS), the largest specialty apparel company in the U.S., with a portfolio of brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its fourth quarter and ...

Gap Inc. Reports Fourth Quarter and Fiscal 2023 Results; Provides Fiscal 2024 Outlook Exhibit 99.1 Fourth Quarter Net Sales Increased with Market Share Gains Fourth Quarter Operating Margin Expansion Reflects Continued Financial and Operational Rigor Full Year Operating Cash Flow of $1.5 Billion; Ended Fiscal Year with Cash Balance of $1.9 Billion SAN FRANCISCO – March 7, 2024 – Gap Inc. (NYSE: GPS), the largest specialty apparel company in the U.S., with a portfolio of brands including Old Navy, Gap, Banan ...

Investors are always looking for stocks that are poised to beat at earnings season and The Gap, Inc. (GPS) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Gap is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of ...