Gap Inc. GPS just released its fourth quarter fiscal 2016 earnings results, posting earnings of 51 cents per share and revenues of $4.43 billion. Currently, GPS is a #3 (Hold) on the Zacks Rank, and is up 0.75% to $24.15 per share in trading shortly after its earnings report was released.
Matched earnings estimates . The company reported earnings of 51 cents per share, matching the Zacks Consensus Estimate of 51 cents per share. This number excludes 4 cents from non-recurring items.
Beat revenue estimates . The company saw revenue figures of $4.43 billion, beat our consensus estimate of $4.396 billion and increasing 1% year-over-year.
In Q4, total comparable sales were up 2% compared to a decline of 7% in the prior year period. For fiscal 2016, Old Navy saw comps of 1%, Gap of (3)%, and Banana Republic of (7)%.
Gap Inc. did mention Athleta, its popular athleisure chain. The store grew its footprint to 132 U.S. locations by the end of 2016, and is scheduled to open about 15 more stores in fiscal 2017.
Looking ahead, Gap expects diluted earnings per share to be in the range of $1.95 to $2.05 for fiscal 2017, with comparable sales expected to be flat to up slightly.
Here's a graph that looks at Gap's price, consensus, and EPS surprise:
Gap, Inc. (The) Price, Consensus and EPS Surprise
The Gap, Inc. is a global specialty retailer which operates stores selling casual apparel, personal care and other accessories for men, women and children under the Gap, Banana Republic and Old Navy brands. The company designs virtually all of its products, which in turn are manufactured by independent sources, and sells them under its brand names.
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