Thu, Jul. 7, 4:29 PM
- Gap (NYSE:GPS) reports sales in June rose 2% Y/Y to $1.57B. Comparable-store sales were also up by the same rate.
- The company cited improved traffic trends during the month, including at Old Navy.
- Comparable-store sales growth by brand: Gap Global -1%, Banana Republic Global -4%, Old Navy Global +5%.
- GPS +5.18% AH to $22.75.
Fri, Jun. 17, 10:03 AM
- Gap (GPS +3.7%) is back over $20 for the first time in over a month with some improved sentiment bubbling up over the retail sector.
- The retailer's +4.5% dividend yield may be luring in some buyers
- Other retail movers ahead of broad averages in early action include Nordstrom (JWN +2.3%), Tailored Brands (TLRD +3.6%), Pier 1 Imports (PIR +3.6%), Best Buy (BBY +2.8%), and DSW (DSW +2.5%). Perhaps it's coincidence, but all those companies boast a dividend yield of over 3%.
Thu, Jun. 2, 4:30 PM
- Gaps (NYSE:GPS) reports sales fell 5% in May to $1.18B.
- Comparable-store sales decreased 6% during the month with Gap Global (-3%), Old Navy Global (-7%), and Banana Republic Global (-11%) all in negative territory. The -6% mark topped expectations for a -8.5% showing.
- The company says it's performance showed improvement leading into the Memorial Day holiday weekend.
- June's sales total will include the Sunday and Monday of the Memorial Day holiday weekend.
- GPS +4.53% premarket to $19.15.
Thu, May 19, 4:32 PM
- Gaps (NYSE:GPS) says it won't reaffirm FY16 EPS guidance due to current trends in the apparel retail sector.
- Q1 comparable-store sales were down 5% and operating margin shrank to 6.5% during the rough period for the retailer.
- Looking ahead, the company says it will streamline its operating model and focus on global markets with the greatest potential. This strategy means the 53 Old Navy stores in Japan will be closed. After some restructuring costs are absorbed, Gap thinks operating margin can be improved by two full percentage points.
- Previously: Gap EPS in-line, misses on revenue (May 19)
- GPS +3.65% AH to $17.91.
Thu, May 19, 4:18 PM
Fri, May 13, 11:25 AM
- Some beat-up mall stocks have overcome a sputtering start to move solidly higher. The names seemed to have reacted to a red-hot read on consumer sentiment from the Reuters/UofM survey.
- Recovery modef: Kohl's (KSS +7.9%), Macy's (M +3%), Dillard's (DDS +2.5%), Gap (GPS +2%), JC Penney (JCP +1.8%), Ascena Retail (ASNA +3.1%), and Christopher & Banks (CBK +2.5%).
- Previously: Retail sales: Consumers spending, just not where they used to (May 13)
- Previously: Retail sales dazzle, retail stocks not so much (May 13)
Tue, May 10, 9:16 AM
Tue, May 10, 7:23 AM
- Topeka Capital downgrades Gap (NYSE:GPS) to a Hold rating from Buy and slashes its price target to $22.
- Telsey Advisory Group lowers its price target on the retailer to $23.
- RBC Capital drops its PT on GPS to $20.
- Mizuho sticks with an Underperform rating and reduces its PT to $18.
- Gap reported another month of soft sales for April.
- GPS -14.03% premarket to $18.75.
Mon, May 9, 5:40 PM
Mon, May 9, 5:09 PM
- Gap (NYSE:GPS) -11% AH after reporting that April same store sales fell 7% and issuing downside Q1 earnings guidance with below-consensus sales.
- Gap sees Q1 (April) EPS of $0.31-$0.32 vs. $0.45 analyst consensus estimate on revenues of $3.44B vs. $3.54B analyst consensus, saying it entered April with more inventory than planned due to weaker than expected traffic.
- Gap says it is identifying opportunities to streamline its operating model to be more efficient and flexible, while more fully exploiting its scale advantage, and is evaluating its Banana Republic and Old Navy fleets, primarily outside of North America, to help sharpen its focus on geographies with the greatest potential.
- April's sales disappointment included a 4% drop at its Gap brand, a 7% slide at Banana Republic, and a 10% decline at its Old Navy brand; for the quarter, Gap global comparable sales fell 3%, Banana Republic slipped 11% and Old Navy dropped 6%.
- Now read Gap -9% as March sales drop, inventory levels high
Thu, May 5, 10:59 AM
- Apparel store stocks trade lower after one of its stalwarts takes it on the chin. L Brands (NYSE:LB) is down 10.5% with even the resilient Victoria's Secret business showing signs of weakness.
- Notable decliners include Urban Outfitters (URBN -3.4%), Guess (GES -3.7%), Francesca's (FRAN -1.8%), Gap (GPS -2.6%), Genesco (GCO -2.8%), Ascena Retail Group (ASNA -3%), Express (EXPR -2%), and Chico's FAS (CHS -2.4%).
- Buckle (BKE -5.8%) and Abercombie & Fitch (ANF -4.5%) are also down, with the former reporting weak April sale and the latter losing an exec on top of the L Brands development.
Fri, Apr. 8, 12:45 PM
Fri, Apr. 8, 9:36 AM
- Comparable-store sales at Gap (NYSE:GPS) fell for the 12th month in a row in an alarming trend that shows few signs of easing. The 6% drop even caught wary analysts off guard.
- Although external factors such as mall traffic and weather are in the mix, painful misses with assortment continue to plague the retailer.
- Is a talent drain to blame? Retail Dive notes that Gap lost Old Navy all-star Stefan Larsson to Ralph Lauren and high-profile creative director Rebekka Bay failed to survive at the company.
- Fashionista warns about the impact of all that excess inventory heading into the heart of spring.
- Gap is still registering a 2% YTD gain, despite today's slide.
- Now read Sell Your Apparel Stocks
Fri, Apr. 8, 9:20 AM
Thu, Apr. 7, 5:58 PM
- Gap (NYSE:GPS) -9% AH after reporting that revenue at stores open at least a year fell 6% to $1.43B from $1.53B a year ago, as its three key brands - Banana Republic, Old Navy and its namesake label - suffered sales drops; analysts were expecting a 4.3% decline.
- Gap also says Q1 margins will be under pressure because it entered April with more inventory than planned.
- Same-store sales at Gap's namesake stores fell 3%, narrower than the year-ago 7% drop, but Banana Republic reported a 14% drop vs. a 3% decline a year earlier, and Old Navy said same-store sells slipped 6% compared with a 14% increase a year ago.
- Now read Mall stocks take a bruising
Thu, Apr. 7, 5:36 PM
Gap, Inc. is a global apparel retail company. The company offers apparel, accessories, and personal care products for men, women, children, and babies. It operates in the specialty, outlet, online, and franchise channels. The company operates its business through four reportable segments: Gap... More
Industry: Apparel Stores
Country: United States
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