earnings
confidence high
sentiment negative
materiality 0.75
Gap Q3 adjusted EPS $0.27; net sales -1% vs 2019; supply chain hit, guidance revised
GAP INC
2021-Q3 EPS reported
$0.71
revenue$12,145,000,000
- Net sales $3.9B (-1% vs 2019); comparable sales +5%; online sales +48%.
- GAAP diluted loss per share $0.40; adjusted EPS $0.27.
- Gross margin 42.1% (best Q3 in over 10 years); operating margin 3.9% reported, 4.3% adjusted.
- Supply chain disruption caused ~$300M lost sales, $100M air freight; full-year guidance revised.
- Restructured debt: retired $2.25B notes, issued $1.5B lower-coupon notes; expects $140M annual interest savings.