Gap Inc. reported better-than-expected first-quarter results, marking a positive turn for the apparel retailer under its new leadership. The company posted a revenue of $3.4 billion, surpassing the estimated $3.3 billion. Adjusted earnings per share (EPS) were $0.41, significantly higher than the expected $0.14. Additionally, Gap's gross margin improved to 41.2%, beating the estimate of 38.5%, and its operating margin reached 6.1%, compared to the anticipated 2%. The strong performance led Gap to raise its outlook for the full year. Sales growth was observed across all four brands, including Old Navy (+6.1%), Gap (+3.4%), Banana Republic (+2.4%), and Athleta (+2.9%). Total sales increased by 3.4%, with US total sales up by 5.2%. As a result, Gap's stock surged 20% following the earnings report.
Gap’s stock jumps 20% as the retailer swings to profit and raises guidance https://t.co/qsefd46Fkd
$GPS up 20% on news that it is the best positioned to bring AI to the enterprise, not that shitco Dell or whatever
$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