Gap: raises annual earnings estimates

(CercleFinance.com) - On its quarterly publication on Thursday evening, Gap raised its FY earnings expectations, while maintaining its assumption of slight sales growth on a 52-week basis.


The clothing chain now anticipates operating profit growth in the mid-to-upper 50% range (instead of the mid-40% range) and gross margin expansion of around 200bp (instead of at least 150bp).

Gap posted Q2 EPS of $0.54, with operating profit of $293m, for a gross margin that rose five points to 42.6% on revenues that increased 5% to $3.7bn (+3% on a comparable basis).


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