Gap (GAP) shares soared in extended trading Thursday after the apparel retailer reported stronger-than-expected third-quarter results and raised its sales outlook.
The Gap, Inc. (NYSE:GAP ) Q3 2024 Earnings Conference Call November 21, 2024 5:00 PM ET Company Participants Whitney Notaro - Head of Investor Relations Richard Dickson - President and Chief Executive Officer Katrina O'Connell - Chief Financial Officer Conference Call Participants Dana Telsey - Telsey Advisory Group Adrienne Yih - Barclays Robert Drbul - Guggenheim Matthew Boss - JPMorgan Brooke Roach - Goldman Sachs Ike Boruchow - Wells Fargo Alex Straton - Morgan Stanley Lorraine Hutchinson - Bank of America Simeon Siegel - BMO Capital Markets Mark Altschwager - Baird Michael Binetti - Evercore ISI Operator Good afternoon, ladies and gentlemen. I would like to welcome everyone to the Gap Inc. Third Quarter 2024 Earnings Conference Call.
Although the revenue and EPS for Gap (GAP) give a sense of how its business performed in the quarter ended October 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Gap (GAP) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.59 per share a year ago.
Corey Tarlowe, Jefferies SVP of Equity Research, joins 'Closing Bell Overtime' to talk GAP jumping on earnings.
The apparel retailer said it now expects full-year sales to grow between 1.5% and 2%. Gap had most recently guided for sales to be up slightly.
Shares of Gap Inc. rallied after hours on Thursday after the clothing retailer pushed its full-year outlook higher and said the holiday shopping season was “off to a strong start.”
Gap raised its guidance ahead of the holiday shopping season as it touted a "strong start" to the all-important fourth quarter. The apparel giant behind Old Navy, Banana Republic, Athleta and its eponymous banner blew past Wall Street's earnings estimates despite a tough quarter impacted by unseasonably warm weather and hurricanes.
The Gap (GAP) will report third-quarter earnings after the market closes on Thursday, and analysts are predominantly bullish on the clothes retailer.
GAP's third-quarter fiscal 2024 top-line results are likely to reflect gains from strength in brands and other efforts.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Beyond analysts' top -and-bottom-line estimates for Gap (GAP), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended October 2024.