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Here's What Key Metrics Tell Us About Gap (GPS) Q1 Earnings
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For the quarter ended April 2024, Gap (GPS - Free Report) reported revenue of $3.39 billion, up 3.4% over the same period last year. EPS came in at $0.41, compared to $0.01 in the year-ago quarter.
The reported revenue represents a surprise of +3.30% over the Zacks Consensus Estimate of $3.28 billion. With the consensus EPS estimate being $0.14, the EPS surprise was +192.86%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 3% versus 1.7% estimated by five analysts on average.
Comparable store sales - YoY change: 3% versus 0.2% estimated by five analysts on average.
Comparable store sales - Banana Republic - YoY change: 1% versus -2.5% estimated by five analysts on average.
Comparable Store Sales - Gap - YoY change: 3% compared to the 1.9% average estimate based on five analysts.
Number of Store Locations - Gap - Total: 598 compared to the 607 average estimate based on four analysts.
Number of Store Locations - Banana Republic - Total: 440 compared to the 441 average estimate based on four analysts.
Number of Store Locations - Old Navy North America: 1,244 versus 1,247 estimated by four analysts on average.
Number of Store Locations - Company-operated stores: 2,554 versus 2,564 estimated by four analysts on average.
Square Footage - Banana Republic North America: 3.3 Msq ft versus the three-analyst average estimate of 3.33 Msq ft.
Net Sales- Gap Global- Total: $689 million compared to the $688.33 million average estimate based on four analysts. The reported number represents a change of -0.4% year over year.
Net Sales- Banana Republic Global- Total: $440 million versus the four-analyst average estimate of $416.74 million. The reported number represents a year-over-year change of +1.9%.
Net Sales- Old Navy Global- Total: $1.92 billion compared to the $1.85 billion average estimate based on four analysts. The reported number represents a change of +4.8% year over year.
Shares of Gap have returned +9.2% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Gap (GPS) Q1 Earnings
For the quarter ended April 2024, Gap (GPS - Free Report) reported revenue of $3.39 billion, up 3.4% over the same period last year. EPS came in at $0.41, compared to $0.01 in the year-ago quarter.
The reported revenue represents a surprise of +3.30% over the Zacks Consensus Estimate of $3.28 billion. With the consensus EPS estimate being $0.14, the EPS surprise was +192.86%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 3% versus 1.7% estimated by five analysts on average.
- Comparable store sales - YoY change: 3% versus 0.2% estimated by five analysts on average.
- Comparable store sales - Banana Republic - YoY change: 1% versus -2.5% estimated by five analysts on average.
- Comparable Store Sales - Gap - YoY change: 3% compared to the 1.9% average estimate based on five analysts.
- Number of Store Locations - Gap - Total: 598 compared to the 607 average estimate based on four analysts.
- Number of Store Locations - Banana Republic - Total: 440 compared to the 441 average estimate based on four analysts.
- Number of Store Locations - Old Navy North America: 1,244 versus 1,247 estimated by four analysts on average.
- Number of Store Locations - Company-operated stores: 2,554 versus 2,564 estimated by four analysts on average.
- Square Footage - Banana Republic North America: 3.3 Msq ft versus the three-analyst average estimate of 3.33 Msq ft.
- Net Sales- Gap Global- Total: $689 million compared to the $688.33 million average estimate based on four analysts. The reported number represents a change of -0.4% year over year.
- Net Sales- Banana Republic Global- Total: $440 million versus the four-analyst average estimate of $416.74 million. The reported number represents a year-over-year change of +1.9%.
- Net Sales- Old Navy Global- Total: $1.92 billion compared to the $1.85 billion average estimate based on four analysts. The reported number represents a change of +4.8% year over year.
View all Key Company Metrics for Gap here>>>Shares of Gap have returned +9.2% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.