Promotions Hit Gap's (GPS) Oct. Sales Results; Stifel Remains Positive on FY16 Prospects
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Small gain on Wall St. as investors eye rate hike
November 10, 2015 7:35 AM ESTBy Noel Randewich
(Reuters) - Wall Street ended modestly higher after a choppy session on Tuesday as gains in consumer discretionary stocks offset a drop in Apple and investors hunkered down for a potential interest rate hike next month.
Apple's shares (NASDAQ: AAPL) fell 3.15 percent after Credit Suisse said the iPhone maker had cut component orders by as much as 10 percent, indicating weakening demand for its newest smartphones.
The stock was the biggest drag on the three major indexes. After falling in the four previous sessions, the S&P 500... More
Gap, Inc. (GPS) Oct. Comps Miss Estimates; Guides Q3 EPS Below Views
November 9, 2015 4:16 PM ESTGap, Inc. (NYSE: GPS) reported that net sales for the four-week period ended October 31, 2015 were $1.20 billion compared with net sales of $1.26 billion for the four-week period ended November 1, 2014. For the third quarter of fiscal year 2015, Gap Inc.s net sales decreased 3 percent to $3.86 billion compared with $3.97 billion for the third quarter of last year.
On a constant currency basis, net sales for the third quarter of fiscal year 2015 were flat versus last year.1 The company noted that the translation of foreign currencies into U.S. dollars negatively impacted the companys reported... More
