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Stock impact report

Gap shares fall on earnings miss despite continued sales growth [Yahoo! Finance]

Gap, Inc. (The) (GAP) 
US:NYSE Investor Relations: greatatlanticinc.com
Company Research Source: Yahoo! Finance
Gap shares fall on earnings miss despite continued sales growth Proactive uses images sourced from Shutterstock Gap Inc (NYSE:GPS) shares fell nearly 14% after the retailer reported fourth-quarter results that came in slightly below Wall Street expectations. The apparel company posted earnings per share of $0.45, missing the $0.46 consensus estimate, while revenue totaled $4.23 billion, slightly below analyst forecasts of $4.24 billion. For the quarter ended January 31, net sales rose 2% year over year to about $4.2 billion, with comparable sales up 3%, marking the company's eighth consecutive quarter of positive comparable sales growth. Online sales increased 5% and accounted for 42% of total revenue, while store sales were flat. Brand performance was mixed. Gap posted the strongest growth with comparable sales up 7% in the quarter, while Old Navy and Banana Republic each reported 3% and 4% comparable sales growth, respectively. Athleta continued to struggle, with comparable Show less Read more
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