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
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to