earnings
confidence high
sentiment positive
materiality 0.80
Gap Inc. Q3 net sales $3.8B (+2% YoY); EPS $0.72; raises FY outlook
GAP INC
2024-Q3 EPS reported
$1.67
revenue$10,937,000,000
- Net sales $3.8B (+2% YoY); comparable sales +1%; operating margin 9.3% (improved 270bps).
- Diluted EPS $0.72 vs prior year; gross margin 42.7% (+140bps); online sales up 7% to 40% of total.
- Brand comps: Gap +3%, Athleta +5%, Banana Republic -1%, Old Navy flat.
- Raised FY24 outlook: net sales +1.5%-2.0% (52-wk basis), operating income growth mid-to-high 60%.
- Q3 dividend $0.15/share declared; cash $2.2B (+64% YoY); inventory down 2%.