Gap Stock Slides On Q2 Earnings: Key Details From The Report

Benzinga

Gap reported second-quarter revenue of $3.73 billion, in line with estimates, and earnings per share of 57 cents, topping forecasts of 55 cents, according to Benzinga. Net sales were flat from last year, with store sales down 1% and online sales up 3%. CEO Richard Dickson said the company exceeded profit expectations, achieved revenue goals, and posted a sixth straight quarter of positive comps driven by Old Navy, Gap, and Banana Republic. The retailer guided third-quarter revenue between $3.86 billion and $3.90 billion, versus estimates of $3.91 billion, and reaffirmed full-year guidance of $15.25 billion to $15.40 billion. Shares fell 6.27% in after-hours trading on Thursday.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Gap reported second quarter revenue of $3.73 billion in line with estimates and earnings

00:09per share of $0.57, topping forecasts of $0.55, according to Benzinga.

00:14Net sales were flat from last year, with store sales down 1% and online sales up 3%.

00:20CEO Richard Dixon said the company exceeded profit expectations, achieved revenue goals,

00:25and posted a sixth straight quarter of positive comps driven by Old Navy, Gap, and Banana Republic.

00:31The retailer guided third quarter revenue between $3.86 billion and $3.90 billion,

00:37versus estimates of $3.91 billion, and reaffirmed full year guidance of $15.25 billion to $15.4 billion.

00:46Shares fell 6.27% in after hours trading on Thursday.

00:49For all things money, visit Benzinga.com.

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