earnings
confidence high
sentiment positive
materiality 0.85
Gap Inc. Q2 net sales $4.2B (+5% vs 2019); raises FY EPS guidance to $1.90-$2.05
GAP INC
2021-Q2 EPS reported
$1.10
revenue$8,202,000,000
- Q2 comparable sales up 12% vs 2019; Old Navy +21%, Athleta +35%, Gap -10%, Banana Republic -15%.
- Reported EPS $0.67; adjusted EPS $0.70; adjusted operating margin 10.2% (+190 bps vs 2019).
- FY 2021 guidance raised: sales growth ~30% vs 2020; adjusted EPS $2.10-$2.25; adjusted operating margin ~7.5%.
- Online sales +65% vs 2019, now 33% of total; year-to-date free cash flow $523M.
- Repurchased $55M shares in Q2; plans to repurchase up to $200M in FY 2021.