-=== Gap (GPS) reported earnings on Thur 7 March 24 (a/h)

 

Gap beats by $0.26, beats on revs; guides Q1 revs above consensus; guides FY25 revs in-line

• Reports Q4 (Jan) earnings of $0.49 per share, $0.26 better than the FactSet Consensus of $0.23; revenues rose 1.3% year/year to $4.3 bln vs the $4.22 bln FactSet Consensus.
  • Comparable sales were flat year-over-year.
    • Old Navy Comparable sales were up 2%.
    • Gap Comparable sales were up 4%.
    • Banana Republic Comparable sales were down 4%.
    • Athleta Comparable sales were down 10%
• Co issues upside guidance for Q1, sees Q1 revs roughly flat, which translates to ~$3.3 bln vs. $3.27 bln FactSet Consensus.
• Co issues in-line guidance for FY25, sees FY25 revs roughly flat, which translates to ~$14.9 bln vs. $14.89 bln FactSet Consensus.