For the quarter ended July 2023, Gap reported revenue of $3.55 billion, down 8% over the same period last year. EPS came in at $0.34, compared to $0.08 in the year-ago quarter.
The reported revenue represents a surprise of -1.36% over the Zacks Consensus Estimate of $3.6 billion. With the consensus EPS estimate being $0.09, the EPS surprise was +277.78%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Gap performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable Store Sales - Old Navy - YoY change: -6% versus -4.03% estimated by five analysts on average.
- Comparable store sales - YoY change: -6% compared to the -4.07% average estimate based on five analysts.
- Comparable store sales - Banana Republic - YoY change: -8% versus -6.44% estimated by five analysts on average.
- Comparable Store Sales - Gap - YoY change: -1% versus -0.61% estimated by five analysts on average.
- Number of Store Locations - Gap - Total: 621 compared to the 651.25 average estimate based on four analysts.
- Number of Store Locations - Banana Republic - Total: 455 compared to the 454 average estimate based on four analysts.
- Number of Store Locations - Old Navy North America: 1247 versus 1253.25 estimated by four analysts on average.
- Number of Store Locations - Company-operated stores: 2592 compared to the 2618.5 average estimate based on four analysts.
- Square Footage - Banana Republic North America: 3.4 Msq ft versus 3.48 Msq ft estimated by three analysts on average.
- Net Sales- Gap Global- Total: $755 million versus the four-analyst average estimate of $816.92 million. The reported number represents a year-over-year change of -14.3%.
- Net Sales- Banana Republic Global- Total: $480 million compared to the $483.58 million average estimate based on four analysts. The reported number represents a change of -11% year over year.
- Net Sales- Old Navy Global- Total: $1.96 billion versus the four-analyst average estimate of $1.98 billion. The reported number represents a year-over-year change of -6.2%.
View all Key Company Metrics for Gap here>>>Shares of Gap have returned -2.7% over the past month versus the Zacks S&P 500 composite's -2.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Gap (GPS) Q2 Earnings
For the quarter ended July 2023, Gap reported revenue of $3.55 billion, down 8% over the same period last year. EPS came in at $0.34, compared to $0.08 in the year-ago quarter.
The reported revenue represents a surprise of -1.36% over the Zacks Consensus Estimate of $3.6 billion. With the consensus EPS estimate being $0.09, the EPS surprise was +277.78%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Gap performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable Store Sales - Old Navy - YoY change: -6% versus -4.03% estimated by five analysts on average.
- Comparable store sales - YoY change: -6% compared to the -4.07% average estimate based on five analysts.
- Comparable store sales - Banana Republic - YoY change: -8% versus -6.44% estimated by five analysts on average.
- Comparable Store Sales - Gap - YoY change: -1% versus -0.61% estimated by five analysts on average.
- Number of Store Locations - Gap - Total: 621 compared to the 651.25 average estimate based on four analysts.
- Number of Store Locations - Banana Republic - Total: 455 compared to the 454 average estimate based on four analysts.
- Number of Store Locations - Old Navy North America: 1247 versus 1253.25 estimated by four analysts on average.
- Number of Store Locations - Company-operated stores: 2592 compared to the 2618.5 average estimate based on four analysts.
- Square Footage - Banana Republic North America: 3.4 Msq ft versus 3.48 Msq ft estimated by three analysts on average.
- Net Sales- Gap Global- Total: $755 million versus the four-analyst average estimate of $816.92 million. The reported number represents a year-over-year change of -14.3%.
- Net Sales- Banana Republic Global- Total: $480 million compared to the $483.58 million average estimate based on four analysts. The reported number represents a change of -11% year over year.
- Net Sales- Old Navy Global- Total: $1.96 billion versus the four-analyst average estimate of $1.98 billion. The reported number represents a year-over-year change of -6.2%.
View all Key Company Metrics for Gap here>>>Shares of Gap have returned -2.7% over the past month versus the Zacks S&P 500 composite's -2.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.