Apparel retailer The Gap Inc. ( GPS ) on Thursday posted an uptick in October same-store sales and offered a bullish third quarter outlook.
The San Francisco-based company posted a 4% gain in October comparable sales, with overall net sales rising 7 from last year.
Looking ahead, GPS forecast third quarter earnings ro range from 61 to 63 cents per share, up from just 38 cents per share in the same quarter a year ago. On average, Wall Street analysts are looking for 54 cents per share for the third quarter.
The Gap shares fell 46 cents, or -1.3%, in morning trading Thursday.
The Gap Inc. ( GPS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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