Gap: Q3 EPS falls 17%

(CercleFinance.com) - Gap has published adjusted EPS of $0.
59 for Q3 on Thursday evening, compared with $0.71 a year earlier, while its adjusted operating margin rose to 6.8%, compared with 3.9% for the same period last year.

At $3.8bn, the clothing chain's revenues were down 7% y-o-y, including the estimated two-point negative impact of the disposal of Gap China. Sales were down 2% LFL

The group confirms its full-year revenue outlook, which balances the progress it is seeing with a cautious view of the economic and consumer environment in which it operates.

For information, Gap estimates that its revenues for the current financial year, including the 53rd week, could be down in the mid-single digits from last year's $15.6bn.


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