GAP: reduces FY targets
(CercleFinance.com) - On the sidelines of its quarterly earnings call, Gap has lowered its full-year guidance, now expecting adjusted EPS of 0.
30-0.60 dollar, an adjusted operating margin of 1.5% to 2.5%, with sales falling in low to mid-single digits.
The clothing chain says that it is taking into account factors affecting its near-term performance, including execution challenges at Old Navy, an uncertain macro environment for households, cost inflation and a slowdown in China.
Gap posted a Q1 loss of 0.44 dollar per share, with a negative operating margin of -5.7% on revenues that are down 13% to 3.5 billion dollars (-14% like-for-like).
After closing up 4.4% yesterday, the GAP share is down almost 19% in pre-market trading, which suggests that it's in for a rough ride in trading today.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
30-0.60 dollar, an adjusted operating margin of 1.5% to 2.5%, with sales falling in low to mid-single digits.
The clothing chain says that it is taking into account factors affecting its near-term performance, including execution challenges at Old Navy, an uncertain macro environment for households, cost inflation and a slowdown in China.
Gap posted a Q1 loss of 0.44 dollar per share, with a negative operating margin of -5.7% on revenues that are down 13% to 3.5 billion dollars (-14% like-for-like).
After closing up 4.4% yesterday, the GAP share is down almost 19% in pre-market trading, which suggests that it's in for a rough ride in trading today.
Copyright (c) 2022 CercleFinance.com. All rights reserved.