Edition:
United Kingdom

Gap Inc (GPS.N)

GPS.N on New York Stock Exchange

27.70USD
24 Sep 2018
Change (% chg)

$-0.10 (-0.36%)
Prev Close
$27.80
Open
$27.73
Day's High
$28.17
Day's Low
$27.40
Volume
1,050,618
Avg. Vol
1,201,496
52-wk High
$35.66
52-wk Low
$25.36

Latest Key Developments (Source: Significant Developments)

Gap Inc Reports Q2 Earnings Per Share $0.76
Thursday, 23 Aug 2018 

Aug 23 (Reuters) - Gap Inc ::GAP INC REPORTS SECOND QUARTER RESULTS.REAFFIRMS FY EARNINGS PER SHARE VIEW $2.55 TO $2.70.Q2 EARNINGS PER SHARE $0.76.Q2 EARNINGS PER SHARE VIEW $0.72 -- THOMSON REUTERS I/B/E/S.REAFFIRMED FULL-YEAR EARNINGS PER SHARE GUIDANCE RANGE OF $2.55 TO $2.70.Q2 OLD NAVY GLOBAL COMPARABLE SALES POSITIVE 5% VERSUS POSITIVE 5% LAST YEAR.DELIVERED SEVENTH CONSECUTIVE QUARTER OF POSITIVE COMPARABLE SALES GROWTH, LED BY STRENGTH OF OLD NAVY.Q2 BANANA REPUBLIC GLOBAL COMPARABLE SALES POSITIVE 2% VERSUS NEGATIVE 5% LAST YEAR.QTRLY NET SALES $4.09 BILLION VERSUS ABOUT $3.8 BILLION.ADOPTED REVENUE RECOGNITION STANDARD STANDARD IN Q1 OF FISCAL 2018, ON A MODIFIED RETROSPECTIVE BASIS.Q2 COMPARABLE SALES INCREASED 2% COMPARED WITH A 1% INCREASE LAST YEAR.ADOPTED OF NEW STANDARD RESULTED IN INCREASE OF $139 MILLION TO NET SALES FOR Q2 OF FISCAL 2018.QTRLY COMPARABLE SALES FOR GAP GLOBAL NEGATIVE 5% VERSUS NEGATIVE 1% LAST YEAR.CONTINUES TO EXPECT COMPARABLE SALES FOR FISCAL YEAR 2018 TO BE FLAT TO UP SLIGHTLY.CONTINUES TO EXPECT TO REPURCHASE ABOUT $100 MILLION PER QUARTER THROUGH END OF FISCAL YEAR 2018.CONTINUES TO EXPECT CAPITAL SPENDING TO BE ABOUT $800 MILLION FOR FISCAL YEAR 2018.CONTINUES TO EXPECT TO OPEN ABOUT 25 COMPANY-OPERATED STORES, NET OF CLOSURES AND REPOSITIONS IN FISCAL YEAR 2018.  Full Article

Greenlight Capital Inc Cuts Share Stake in Apple and General Motors
Tuesday, 14 Aug 2018 

Aug 14 (Reuters) - Greenlight Capital Inc::GREENLIGHT CAPITAL INC TAKES SHARE STAKE OF 134,000 SHARES IN GAP INC - SEC FILING.GREENLIGHT CAPITAL INC CUTS SHARE STAKE IN APPLE INC BY 77.4 PERCENT TO 142,100 SHARES.GREENLIGHT CAPITAL INC CUTS SHARE STAKE IN GENERAL MOTORS CO BY 6.4 PERCENT TO 21.2 MILLION SHARES.GREENLIGHT CAPITAL INC CUTS SHARE STAKE IN VOYA FINANCIAL INC BY 25.7 PERCENT TO 2.9 MILLION SHARES.GREENLIGHT CAPITAL INC - CHANGE IN HOLDINGS ARE AS OF JUNE 30, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF MARCH 31, 2018.  Full Article

Gap Inc - Amended And Restated Its $500 Mln Unsecured Revolving Credit Facility To Extend Termination Date To May 31, 2023
Friday, 1 Jun 2018 

June 1 (Reuters) - Gap Inc ::GAP INC - AMENDED AND RESTATED ITS $500 MILLION UNSECURED REVOLVING CREDIT FACILITY TO EXTEND TERMINATION DATE TO MAY 31, 2023 - SEC FILING.  Full Article

Gap expects Q4 selling, general, administrative costs to be up YoY
Thursday, 16 Nov 2017 

Nov 16 (Reuters) - Gap Inc :Gap Inc- Due to hurricanes, 277 stores were closed for an average of about 6 days in Q3 -conf call.Gap Inc- Q3 merchandise margin was about flat to last year -conf call.Gap Inc- expects YOY increase in Q4 SG&A as some production costs move out of Q3 and into Q4, incremental spend on digital in holiday season.  Full Article

GAP reports Q3 earnings per share of $0.58
Thursday, 16 Nov 2017 

Nov 16 (Reuters) - Gap Inc :Gap Inc reports third quarter results.Q3 sales $3.84 billion versus i/b/e/s view $3.76 billion.Q3 earnings per share $0.58.Q3 earnings per share view $0.54 -- Thomson Reuters I/B/E/S.Sees FY adjusted earnings per share $2.08 to $2.12.Sees FY 2017 earnings per share $2.18 to $2.22.Gap inc's comparable sales for Q3 of fiscal year 2017 were up 3 percent versus a 1 percent decrease last year​.Company now expects comparable sales for fiscal year 2017 to be up low-single-digits​.Qtrly ‍old navy global comparable sales positive 4 percent versus positive 4 percent last year​.Qtrly Banana Republic global ‍comparable sales negative 1 percent versus negative 6 percent last year​.At end of Q3 of fiscal year 2017, total inventory was up 3 percent year over year​.Company noted inventory increase is "primarily due to the timing of in-transit inventory and the negative impact of foreign exchange​".Continues to expect capital spending to be about $625 million for fiscal year 2017.FY 2018 earnings per share view $2.06 -- Thomson Reuters I/B/E/S​.  Full Article

PRESS DIGEST-Canada-Sept 17

Sept 17 The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.