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Gap Inc. (NYSE: GPS) Fiscal 4Q19 Results: Gap and Old Navy to Split, 230 Stores to Close

Executive Summary

  • Gap reported fiscal 4Q19 revenues of $4.6 billion, down 3% year over year and lower than the $4.7 billion consensus estimate. The company reported 4Q19 EPS of $0.72, up from $0.52 in 4Q18, but below the $0.68 consensus estimate. 
  • The company’s comparable sales were down 1% in 4Q19, compared to a 5% increase in 4Q18.
  • For FY20, Gap forecasts adjusted EPS of $2.40–2.55, excluding costs related to the Gap brand fleet restructuring. The company expects sales to be flat to slightly up, compared to the consensus estimate of up 0.5%.

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