GAP: returns to profit in Q4
(CercleFinance.com) - On Thursday evening the clothing chain Gap published Q4 EPS of 61 cents, against a loss of 49 cents per share a year earlier, although its adjusted operating margin slipped 1.
6 point to 4.3 %.
The group, whose brands include Gap, Old Navy, Banana Republic and Athleta banners, saw its revenues fall 5% to 4.4 billion dollars, although were flat LFL, thanks to strong online sales (+49%).
In spite of continuing uncertainties relating to Covid-19, Gap says that it expects 2021 EPS of 1.20 to 1.35 dollar, an operating margin of around 5% and "net sales to reflect mid- to high-teens growth".
Copyright (c) 2021 CercleFinance.com. All rights reserved.
6 point to 4.3 %.
The group, whose brands include Gap, Old Navy, Banana Republic and Athleta banners, saw its revenues fall 5% to 4.4 billion dollars, although were flat LFL, thanks to strong online sales (+49%).
In spite of continuing uncertainties relating to Covid-19, Gap says that it expects 2021 EPS of 1.20 to 1.35 dollar, an operating margin of around 5% and "net sales to reflect mid- to high-teens growth".
Copyright (c) 2021 CercleFinance.com. All rights reserved.