Gap’s (GPS) Forecast Comes In Below Anaylsts’ Estimates

Gap has forecasted its full-year profit and unfortunately they came in below analysts’ estimates. The company has issued full-year adjusted profit of $1.87-$1.92 per share while its earlier forecast was a profit of about $1.92.

Analysts on average were expecting earnings of $1.96, according to Thomson Reuters I/B/E/S.

For the second quarter, ended July 30th, the company’s net income fell to $125 million, or 31 cents per share from $219 million, or 52 cents per share, a year earlier.

According to Thomson Reuters I/B/E/S, excluding items, the company earned 60 cents per share, beating the average analyst estimate of 59 cents.

Net sales were unchanged from the $3.85 billion the company provided on Aug. 8.

Disclaimer: We have no position in Gap Inc. (NYSE: GPS) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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