GAP: Q2 EPS down 42%
(CercleFinance.com) - Thursday evening the clothing chain Gap announced Q2 EPS (to 3 August) that is down 42% at 44 cents in its second accounting quarter, although when adjusted for extraordinary items, EPS reached 63 cents.
The group's adjusted operating margin fell by 1.4 point to 8.3%, for revenues of 4 billion dollars, down 2% as reported and down 4% on a comparable basis (including a 7% decline for the Gap brand itself).
For the current fiscal year, the San Francisco based group confirms that it expects adjusted EPS of between 2.05 dollars and 2.15 dollars for revenue down that is down in low single digits on a comparable basis.
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The group's adjusted operating margin fell by 1.4 point to 8.3%, for revenues of 4 billion dollars, down 2% as reported and down 4% on a comparable basis (including a 7% decline for the Gap brand itself).
For the current fiscal year, the San Francisco based group confirms that it expects adjusted EPS of between 2.05 dollars and 2.15 dollars for revenue down that is down in low single digits on a comparable basis.
Copyright (c) 2019 CercleFinance.com. All rights reserved.