Gap Q3 Beat Driven By Denim And Viral Milkshake Campaign

Benzinga

Gap’s Q3 comparable sales rose 5% as its “Better in Denim” and viral “Milkshake” campaigns helped the retailer beat earnings and revenue expectations. The company raised its full-year outlook to 1.7%–2% sales growth and projected a 7.2% operating margin. CEO Richard Dickson said the momentum reflects steady improvements in product, marketing, and partnerships.

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

00:02Gap reported third-quarter comparable sales up 5% as its better-in-denim and milkshake campaigns

00:07boosted demand and helped the retailer beat expectations on earnings and revenue,

00:11according to CNBC. Retail giant reported earnings of $0.62 per share and revenue of $3.94 billion,

00:17beating expectations of $0.59 per share and $3.91 billion. Gap raised its full-year outlook to 1.7%

00:24to 2% sales growth that now projects a 7.2% operating margin,

00:28up from its earlier 6.7% to 7% range. Gap's viral milkshake campaign boosted sales,

00:35but CEO Richard Dixon said the brand's growth reflects consistent improvements in product,

00:39marketing, and partnerships. For all things money, visit Benzinga.com.

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