Gap Inc. reported strong Q1 results, exceeding expectations with a revenue of $3.4B, beating estimates of $3.3B. The adjusted EPS of $0.41 crushed estimates of $0.14. Gap's gross margin of 41.2% also surpassed the estimated 38.5%. The company's operating margin of 6.1% exceeded the expected 2%. As a result, Gap's stock surged by 20%, with shares popping 15% in late trading. The positive results have led Gap to raise its outlook for the full year, with CEO expressing confidence in raising sales and operating income guidance.
Shares of Gap jumped in late trading after the apparel retailer posted higher quarterly sales, reflecting comparable-store increases across its four brands https://t.co/OOVzCqjdie
Gap Inc. Reports Strong Q1 Results, Stock Surges 20%, Raises Full-Year Outlook https://t.co/kzwrVJ9BT8
$GPS | Gap Inc. Q1'24 Earnings Highlights: 🔹 EPS: $0.41 (Est. $0.14) 🟢 🔹 Revenue: $3.39B (Est. $3.29B) 🟢; UP +3% YoY 🔹 Gross Margin: 41.2% (Est. 38.54%) 🟢; UP +410 basis points YoY FY24 Guidance: 🔹 Net Sales: UP slightly (Prior: roughly flat) 🟢 🔹 Gross Margin: At least… https://t.co/zze4Jd2Pcz
Gap Stock Surges on Strong Quarter. Its Turnaround Plan Is Working. https://t.co/7L5P921ymv
Gap’s stock jumps 20% as the retailer swings to profit and raises guidance https://t.co/qsefd46Fkd
$GPS is on FUEGO, up 20% after earnings... ▪ Adjusted EPS of $0.41, crushing estimates of $0.14 ▪ Revenue of $3.4B, beating estimates of $3.3B ▪ 41.2% gross margin, beating estimate of 38.5% WOAH, what a quarter! Join the convo 👇 https://t.co/n31ZlL5xzd
Gap Q1 results: 💵 Total sales: +3.4% 🇺🇸 US total sales: +5.2% ⚓️ Old Navy US sales: +6.1% 🟦 Gap US sales: +3.4% 🍌 Banana US sales: +2.4% 🧘🏼♂️Athleta US sales: +2.9% Pleasing results from Gap, though off a weak prior year. Underlines the narrative that progress is being made!
GAP CEO: "[We] delivered a strong quarter that exceeded expectations across key metrics...Our Q1 results are giving us confidence to raise both sales and operating income guidance for the full year" $GPS: +18% AH https://t.co/kdMP7MFQsH
Gap reported better-than-expected results and raised its outlook for the full year https://t.co/c8J7RSh3FU
Gap shares pop 15%, as earnings beat on sales growth at all four brands https://t.co/eYc1cCn8VA
GAP INC JUST REPORTED EARNINGS *GAP INC Q1 REVENUE $3.4B, EST. $3.3B ( BEAT ✅ *GAP INC Q1 ADJ EPS $0.41 , EST. $0.14 ( BEAT ✅ *GAP INC Q1 GROSS MARGIN 41.2% EST. 38.5% ( BEAT ✅ ) *GAP INC Q1 OPERATING MARGIN 6.1%, EST. 2% ( BEAT ✅ ) $GPS https://t.co/sIK7mKXtBj
Gap posted higher quarterly sales in an early sign that its new leader’s plan for turning around the beleaguered apparel retailer is starting to pay off https://t.co/pU1mrNm5Jg
$GPS 🚨 Gap EPS of 41c a beat of 25c Rev Beat -- Rev $3.4B .. Exp $3.3B Squeezing, was good mover last earnings as well Ran for days https://t.co/v8A0aNWnyp
$GPS Earnings: - Net sales of $3.4 billion were up 3% compared to last year. Comparable sales were up 3% year-over-year. - Net income of $158 million; diluted earnings per share of $0.41. - Gross margin of 41.2% increased 410 basis points versus last year's reported gross margin… https://t.co/uUh7QvzUmt
🔵 GAP LIFTS ANNUAL SALES FORECAST ON OLD NAVY STRENGTH Full Story → https://t.co/aWvDLZjQYh Gap raised its annual sales forecast and its first-quarter results beat market expectations, boosted by strength in its Old Navy and Gap brands as budget-strained Americans snap up…