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Gap Inc. (GPS) 4Q15 Results: Results in Line, but Guidance Light

Executive Summary

  • Gap reported 4Q15 EPS of $0.57 versus the consensus estimate of $0.56. On February 8, management updated its quarterly earnings guidance to $0.56–$0.57.
  • As reported on February 8, quarterly comps were down 7% and total sales were down 6.8%, to $4.39 billion. By brand, Gap comps were down 3%, Banana Republic comps were down 14% and Old Navy comps were down 8%.
  • FY16 guidance calls for EPS of $2.20–$2.25.

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