Gap Inc (GPS) reported quarterly earnings results on Thursday, Aug-18-2016. The company said it had a profit of $0.60 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.59. The company posted revenue of $3851.00 million in the period, compared to analysts expectations of $3778.31 million. The company’s revenue was down -1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
Many Wall Street Analysts have commented on Gap Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Company shares were Upgraded by Mizuho on Aug 9, 2016 to ” Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $17 .Wolfe Research Upgraded Gap Inc on Jul 26, 2016 to ” Outperform”, Price Target of the shares are set at $30.
Gap Inc opened for trading at $24.9 and hit $25.51 on the upside on Wednesday, eventually ending the session at $25.46, with a gain of 1.27% or 0.32 points. The heightened volatility saw the trading volume jump to 51,37,910 shares. Company has a market cap of $10,132 M.
In a different news, on Mar 21, 2016, Andi Owen (Global Pres., Banana Republic) sold 11,381 shares at $30.19 per share price. According to the SEC, on Mar 21, 2016, Sabrina Simmons (EVP & CFO) sold 12,416 shares at $30.25 per share price. On Mar 7, 2016, Solomon Goldfarb (EVP, Digital & Customer Exp.) sold 1,123 shares at $29.54 per share price, according to the Form-4 filing with the securities and exchange commission.
The Gap Inc. is an apparel retail company. The Company offers apparel accessories and personal care products for men women and children under the Gap Banana Republic Old Navy Piperlime Athleta and Intermix brands. In addition to operating in the specialty outlet online and franchise channels Gap Inc. is an apparel retailer in using omni-channel capabilities for digital world and physical stores. Its omni-channel services include order-in-store reserve-in-store find-in-store and ship-from-store that are tailored across its portfolio of brands. Gap includes GapKids babyGap GapMaternity GapBody and GapFit collections. It also offers handbags shoes jewelry eyewear and personal care products among others. It has Company-operated stores in the United States Canada the United Kingdom France Ireland Japan Italy China and Hong Kong. It operates Gap Banana Republic and Old Navy stores throughout Asia Australia Europe Latin America the Middle East and Africa.