Gap, Inc. (GPS) Tops Q2 EPS by 24c

Gap, Inc. (NYSE: GPS) reported Q2 EPS of ($0.17), $0.24 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $3.28 billion versus the consensus estimate of $2.91 billion.

• Second quarter fiscal year 2020 comparable sales were up 13%, driven by the strength of Gap Inc.’s scaled e-commerce business, which added over 3.5 million new customers during the quarter

2020 Financial Outlook

Given the high level of uncertainty in the current environment, the company is not providing fiscal year net sales or earnings outlooks at this time.

“Our strong financial position, healthy cash flow generation and our continued execution of initiatives to drive profitable growth provide the foundation to emerge from the crisis well-positioned to compete in a rapidly evolving marketplace,” said Katrina O’Connell, Chief Financial Officer, Gap Inc. “Recognizing the uncertainty ahead, we remain committed to amplifying our distinct advantages and leveraging our scale to capture share as demand recovers.”

For earnings history and earnings-related data on Gap, Inc. (GPS) click here.

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