The Gap, Inc.NYSE
Thu, Dec. 1, 4:58 PM
- "November traffic trends remained challenging," says CFO Sabrina Simmons, but management is encouraged that performance improved in the last half of the month.
- Comp sales of $1.53B were down 1% from November 2015. The company estimates the fire at its Fishkill distribution center campus cost it 300 basis points.
- GPS -0.9% after hours
Mon, Nov. 28, 8:13 AM
- Piper Jaffray is active with some rating moves in the retail sector after factoring in Black Friday shopping trends.
- The investment firm boosts its rating on Gap (NYSE:GPS) and L Brands (NYSE:LB) to Neutral. Both stocks were languishing with Underweight ratings at PJ previously.
- Toy makers Hasbro (NASDAQ:HAS) and Spin Master are lowered to a Neutral ratings on valuation calls. Hasbro is assigned a price target of $88 and Spin Master (OTC:SNMSF) is tagged with a C$39 PT.
- Source: Bloomberg
Fri, Nov. 25, 11:57 AM
- KeyBanc calls Amazon (AMZN -0.1%) and Wal-Mart (WMT +0.7%) early winners of the Black Friday shopping period based on channel checks.
- The investment firm confirms other reports that mall traffic is light. Within the mall sector, Lululemon (LULU +0.2%), Victoria's Secret (NYSE:LB) and Gaps (GPS -1.4%) are called outperformers - while concerns are raised over Buckle (BKE +0.6%) and Vera Bradley (VRA +0.8%).
- Cowen also sees Wal-Mart as a winner. Pink (LB) and American Eagle Outfitters (AEO +0.2%) are also doing wel, according to analyst Olivia Chen.
- MKM Partners has an eye on margins. The combination of "virtually all" retailers offering broad discounts on store assortment and a low level of inventory heading into the shopping period is striking.
- FBR Capital reiterates the broad theme that online sales are diluting Black Friday store traffic. Despite the overhang - Carter's (CRI +0.2%), Hanesbrands (HBI -0.3%), Chico's (CHS +0.7%) and Children's Place (PLCE +1.3%) are called out by FBR as standouts.
Fri, Nov. 18, 12:41 PM
Fri, Nov. 18, 12:37 PM
- Large-cap names with 5x their normal volume:
- ASML Holding (ASML +1.7%)
- The Gap (GPS -16.5%)
- Mid-caps with 5x their normal volume:
- HRG Group (HRG +3.8%)
- Grand Canyon Education (LOPE -0.1%)
- Marvell Tech (MRVL +8.8%)
- Nuance Communication (NUAN +9.6%)
- Post Holdings (POST -2.1%)
- Regal Entertainment (RGC -2.2%)
- ViaSat (VSAT +4.9%)
Fri, Nov. 18, 9:15 AM| Fri, Nov. 18, 9:15 AM | 1 Comment
Fri, Nov. 18, 8:02 AM
- Citi moves to a Sell rating on Gap (NYSE:GPS) after digesting the company's earnings report and conference call. Analyst Paul Lejuez thinks the Gap brand will continue to struggle. He notes Q4 is off to weak start for the retailer.
- Cowen rates Gap at Market Perform and assigns a price target of $25. The firm says traffic is still the key risk.
- Wells Fargo is worried that guidance from Gap for the key holiday period only limped in even after merchandise margins improved in Q3. WF keeps a Market Perform rating and sets a valuation range of $24 to $25 on Gap.
- Jefferies thinks Q3 was a bottoming out of fundamentals for Gap. The firm's Buy rating and $36 price target stand out.
- Previously: Gap EPS in-line, beats on revenue (Nov. 17)
- Previously: Old Navy shows improvement for Gap in Q3 (Nov. 17)
- Gap -6.81% premarket to $28.62.
Thu, Nov. 17, 5:35 PM
Thu, Nov. 17, 4:28 PM
- Comparable sales at Gap (NYSE:GPS) fell 3% in Q3. The Fishkill distribution center fire cost the company two percentage points of comp growth.
- The Old Navy Global business managed a 3% increase in comparable sales during the quarter.
- Gap's merchandise margin rate improved 220 bps.
- Total inventory dollars were down 4% at the end of the quarter.
- Store count +12 Q/Q to 3,742.
- Previously: Gap EPS in-line, beats on revenue (Nov. 17)
- GPS -2.96% AH to $29.80.
Thu, Nov. 17, 4:17 PM
Thu, Nov. 17, 12:18 PM
- In no surprise, the list is dominated by the ripping financial sector:
- Allstate (ALL +1.4%)
- Ameriprise (AMP +0.2%)
- TD Ameritrade (AMTD +1.6%)
- BB&T (BBT +2.1%)
- Citigroup (C +2.4%)
- Citizens Financial (CFG +2%)
- Comerica (CMA +1.5%)
- CNA Financial (CNA +0.6%)
- Loews Corp. (L +0.9%)
- Marsh & McLennan (MMC +1.9%)
- PNC Financial (PNC +2.6%)
- Royal Bank of Canada (RY +0.7%)
- U.S. Bancorp (USB +1.9%)
- Aetna (AET +1.5%)
- Best Buy (BBY +10.4%)
- CBS (CBS +0.6%)
- Celanese (CE +0.1%)
- Comcast (CMCSA +1.5%)
- Dell Technologies (DVMT +1.1%)
- The Gap (GPS +0.4%)
- Humana (HUM +1.4%)
- KLA-Tencor (KLAC +2.7%)
- Liberty Media (LMCA +1.6%)
- Lam Research (LRCX +1.9%)
- Micron (MU +5.3%)
- Nvidia (NVDA +2.7%)
- Rockwell (ROK -0.5%)
- Teck Resources (TCK +0.5%)
- Texas Instruments (TXN +1.1%)
- New lows:
- Novo Nordisk (NVO +0.3%)
Wed, Nov. 16, 5:35 PM
Tue, Nov. 15, 4:23 PM| Tue, Nov. 15, 4:23 PM
Mon, Nov. 14, 9:59 AM
- Apparel store stocks are moving higher in a relief rally tied to confidence that consumer spending will pick up with some election anxiety in the past.
- Polling from Gallup indicated that consumers went into the election with a sour outlook, a sentiment seen by some investment firms such as Citi as reversing.
- Early movers in the sector include Ascena Retail Group (ASNA +9.7%), Urban Outfitters (URBN +4.4%), Stage Stores (SSI +6.6%), The Children's Place (PLCE +5%), Gap (GPS +4.3%), Buckle (BKE +4.9%), Express (EXPR +5.2%), Abercrombie & Fitch (ANF +3.8%) and Genesco (GCO +3.1%).
- Related: Chico's at 52-week high on post-election confidence (Nov. 14)
- Previously: Companies set to benefit from tax relief (Nov. 14)
Thu, Nov. 10, 4:51 PM
Wed, Nov. 9, 1:14 PM
- Retail store chains are breaking higher as investors digest the impact of the GOP sweep.
- A very popular topic on Q3 conference calls was election anxiety in the U.S., with the thought that consumers were holding back.
- An interesting point is that in recent consumer sentiment surveys Republicans showed a sharply lower positive reading on the state of affairs than Democrats. If the theory holds out, close to 60M Trump voters will now open their pocketbooks a bit more.
- Gainers include Fred's (FRED +10.5%), Tuesday Morning (TUES +7.1%), Kroger (KR +4.2%), Whole Foods Market (WFM +2.5%), Supervalu (SVU +4.2%), Ollie's Bargain Outlet Holdings (OLLI +3%) Stage Stores (SSI +6.7%), Build-A-Bear Workshop (BBW +2.7%), Kohl's(KSS +3.3%), Dillard's (DDS +2.2%), Stein Mart (SMRT +4.5%), Tailored Brands (TLRD +4.1%), Guess (GES +3.6%), Gap (GPS +3.1%), Buckle (BKE +3.6%) and PriceSmart (PSMT +1.4%).