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Gap Earnings Call 
 
Gap Inc Earnings Call, Fourth Quarter 2008
6th March 2009 00:00 AM
Online sales increased 10 % to $319 million, compared with $289 million despite traffic remaining a weak spot.
The clothing retailer reported sales of $4.1 billion, compared with $4.7 billion in 2007 as comparable store sales decreased 14%, compared with a decrease of 3% last year. The firm''s ability to drive healthy margins and achieve cost savings helped it deliver earnings growth of 16%.
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Gap Earnings Call, Third Quarter 2008
23rd December 2008 00:00 AM
The focus on healthy merchandise margins and cost management greatly enhanced positive results amidst the challenging economic environment.
The global specialty retailer reported third quarter net sales of $3.6 billion compared with $3.9 billion same period last year. The Q3 net earnings firmed to $246 million from $238 million in Q3 last year. The company’s comparable store sales during the quarter eased 12% versus a decrease of 5% in the third quarter last year. Online sales for Q3 rose 15% to $284 million from $247 million last year quarter. The management paid a quarterly dividend of 8.5 cents per share.
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Gap Earnings Call, Second Quarter 2008
24th August 2008 00:00 AM
Despite the negative traffic environment, the firm achieved bottom line earnings growth driven by strong merchandise margins and cost management.
The retailer reported a 5% drop in sales to $3.5 billion as comp store sales were down 10%. However, income was up 51% to $229 million or 32 cents a share, from $152 million or 19 cents a share in the prior year as gross margins increased 390 basis points to 38.2%. Operating expenses decreased by $74 million largely driven by reduced expenses related to the stores, some of which are driven by the decline in sales.
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Gap First Quarter Earnings Call
24th May 2008 00:00 AM
Profit rose 40% after the company controlled inventory to help limit profit-eroding discounts and offset declining sales.
Sales of the San Francisco-based retailer fell to $3.38 billion from $3.55 billion a year ago. That was lower than analysts'' expectations of $3.42 billion in revenue. Comparable-store sales decreased 11%, compared with a decrease of 4% in Q1 of the prior year. Online sales increased 21% to $236 million vs. $195 million the year before. Gross margin rose 1.5 percentage points to 39.7% compared with the prior year. For 2008 earnings per share are expected to be $1.20 to $1.27.
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Gap Fourth Quarter Earnings Call
8th March 2008 00:00 AM
Earnings were $265 million or 35 cents a share, up 46% from $219 million or 27 cents a share in the prior year due to an increase in margins.
The clothing company reported net sales of $4.7 billion, down marginally from $4.9 billion in the prior year as comparable store sales decreased 3%.The decrease is attributable to the weaker consumer in the challenging economic environment. The company completed its $1.5 billion share repurchase program and repurchased about 30 million shares for a total of $613 million. Going forward, the firm intends to increase its'' annual dividend to 34 cents a share from 32 cents a share.
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Gap Third Quarter Earnings Call
28th November 2007 00:00 AM
The net earnings rose 26% to $238 million or 30 cents a share versus $189 million or 23 cents per share for the third quarter of last year.
The specialty retailer of apparel, accessories and personal care products reported flat revenue of $3.9 billion over the prior year quarter, on 5% decline in comparable store sales. For the first three quarters of fiscal year 2007, the company opened 187 store locations and closed 127 store locations, and square footage increased 2%. Gap is increasing its fiscal year 2007 EPS guidance to 92 cents to 98 cents from prior guidance of 83 cents to 88 cents.
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Gap Second Quarter Earnings Call
5th September 2007 00:00 AM
Net earnings rose 19% to $152 million or 19 cents a share from $128 million or 15 cents a share in 2006, due to business streamlining.
The retail firm reported a marginal decrease in net sales to $3.69 billion from $3.71 billion in 2006, following a 5% fall in comparable store sales that were partially offset by an upsurge in online sales to $172 million. The majority of the planned headcount elimination was completed during the quarter. New management highlighted the adoption of a brand-centric structure as an additional 73 new stores were opened. The company has revised its EPS guidance upwards to 86 cents per share.
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Gap First Quarter Earnings Call
30th May 2007 00:00 AM
Profit decreased 26% to $178 million from $242 million last year due to decline in same-store sales and margins.
The specialty retailing firm reported 3.6% revenue increase to $3.56 billion from $3.44 billion last year, which exceeded analysts’ expectations of $3.48 billion. Excluding the loss associated with the closure of Forth & Towne stores, the company posted a profit of 25 cents a share. Same-store sales fell 4% compared to a 9% decline a year earlier. The company still expects 2007 EPS of 76 cents to 86 cents a share, or 80 cents to 90 cents a share excluding Forth & Towne''s expected loss.
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