Gap’s sales increased 9% to $4.8 billion in the quarter with US contributing 80% to sales, helped by strong holiday sales and improved margins. On a per share basis, adjusted earnings came in at $0.63, up 23.5% compared to the prior year period. Same-store sales growth was 5% for the quarter and 3% for the fiscal year 2017.
The retailer reported GAAP earnings of $0.52 per share compared to $0.55 in the fourth quarter of 2016. Reduction in earnings was mainly due to $34 million impact relating to recent income tax reforms. Gap paid $0.23 per share as dividend to shareholders in the quarter.
Fiscal 2018 Outlook
The company forecasts its reported EPS to be between $2.55 and $2.70. Same-store sales is expected to be flat to up for the year. On the capex front, Gap intends to spend $800 million to bolster its physical and digital experience to users. On the store front, 25 stores are expected to be opened by the company in fiscal 2018.
Most Popular
Earnings Preview: Microsoft expected to report higher Q3 revenue, profit
Tech behemoth Microsoft Corp. (NASDAQ: MSFT) is preparing to report its third-quarter 2025 results, amid expectations for a year-over-year increase in revenue and earnings. The company has performed well recently,
What to expect when eBay (EBAY) reports its Q1 2025 earnings results
Shares of eBay Inc. (NASDAQ: EBAY) were down slightly in midday trade on Friday. The stock has gained 8% year-to-date. The ecommerce giant is slated to report its earnings results
AbbVie Q1 2025 adjusted earnings increase on 8% revenue growth; beat estimates
Biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) announced first-quarter 2025 financial results, reporting an increase in revenue and adjusted earnings. The company reported worldwide net revenues of $13.3 billion for the
