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2021-11-24

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Gap's quarter results missed estimates,and slashed its full-year outlook

Gap Inc. slashed its full-year outlook, with fiscal third-quarter results falling short as Covid-rel

Gap's quarter results missed estimates,and slashed its full-year outlook

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That missed expectations for $4.44 billion.</p>\n<p>Comparable sales at Old Navy fell 9% year over year and were up 6% compared with 2019. The company said this banner was disproportionately impacted by supply chain delays, particularly its women’s assortment.</p>\n<p>At its namesake Gap brand, comparable sales rose 7% from a year earlier and were up 3% versus 2019.</p>\n<p>At Banana Republic, which focuses more on selling work wear for women, comparable sales rose 28% from year-ago levels and fell 10% on a two-year basis.</p>\n<p>Comparable sales at Athleta, Gap’s rival to&nbsp;Lululemon&nbsp;and&nbsp;Nike&nbsp;for women, increased 2% from a year earlier and rallied 41% versus 2019.</p>\n<p>Gap’s expectations for adjusted full-year earnings have been lowered to a range of $1.25 to $1.40 per share, from a prior range of $2.10 to $2.25 a share. Analysts had expected Gap to earn $2.20 per share, Refinitiv said.</p>\n<p>Gap said its revised outlook takes into account roughly $550 million to $650 million of lost sales from supply chain constraints and about $450 million in air freight costs for the year.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Gap's quarter results missed estimates,and slashed its full-year outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGap's quarter results missed estimates,and slashed its full-year outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-11-24 06:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Gap Inc. slashed its full-year outlook, with fiscal third-quarter results falling short as Covid-related factory closures led to significant product delays in the quarter.</p>\n<p>Its stock was recently down 17.3% in extended trading on the news.</p>\n<p><img src=\"https://static.tigerbbs.com/9e02a84f16a37040bfb3a2f81716c12c\" tg-width=\"850\" tg-height=\"617\" referrerpolicy=\"no-referrer\"></p>\n<p>Here’s how Gap did in the three-month period ended Oct. 30 compared with what analysts were anticipating, using Refinitiv data:</p>\n<ul>\n <li>Earnings per share: 27 cents adjusted vs. 50 cents expected</li>\n <li>Revenue: $3.94 billion vs. $4.44 billion expected</li>\n</ul>\n<p>Gap said it swung to a net loss of $152 million, or 40 cents per share, from net income of $95 million, or 25 cents a share, a year earlier.</p>\n<p>Excluding items, it earned 27 cents per share, short of the 50 cents that analysts had been looking for, according to Refinitiv.</p>\n<p>Revenue fell slightly to $3.94 billion from $3.99 billion a year earlier. That missed expectations for $4.44 billion.</p>\n<p>Comparable sales at Old Navy fell 9% year over year and were up 6% compared with 2019. The company said this banner was disproportionately impacted by supply chain delays, particularly its women’s assortment.</p>\n<p>At its namesake Gap brand, comparable sales rose 7% from a year earlier and were up 3% versus 2019.</p>\n<p>At Banana Republic, which focuses more on selling work wear for women, comparable sales rose 28% from year-ago levels and fell 10% on a two-year basis.</p>\n<p>Comparable sales at Athleta, Gap’s rival to&nbsp;Lululemon&nbsp;and&nbsp;Nike&nbsp;for women, increased 2% from a year earlier and rallied 41% versus 2019.</p>\n<p>Gap’s expectations for adjusted full-year earnings have been lowered to a range of $1.25 to $1.40 per share, from a prior range of $2.10 to $2.25 a share. Analysts had expected Gap to earn $2.20 per share, Refinitiv said.</p>\n<p>Gap said its revised outlook takes into account roughly $550 million to $650 million of lost sales from supply chain constraints and about $450 million in air freight costs for the year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194802683","content_text":"Gap Inc. slashed its full-year outlook, with fiscal third-quarter results falling short as Covid-related factory closures led to significant product delays in the quarter.\nIts stock was recently down 17.3% in extended trading on the news.\n\nHere’s how Gap did in the three-month period ended Oct. 30 compared with what analysts were anticipating, using Refinitiv data:\n\nEarnings per share: 27 cents adjusted vs. 50 cents expected\nRevenue: $3.94 billion vs. $4.44 billion expected\n\nGap said it swung to a net loss of $152 million, or 40 cents per share, from net income of $95 million, or 25 cents a share, a year earlier.\nExcluding items, it earned 27 cents per share, short of the 50 cents that analysts had been looking for, according to Refinitiv.\nRevenue fell slightly to $3.94 billion from $3.99 billion a year earlier. That missed expectations for $4.44 billion.\nComparable sales at Old Navy fell 9% year over year and were up 6% compared with 2019. The company said this banner was disproportionately impacted by supply chain delays, particularly its women’s assortment.\nAt its namesake Gap brand, comparable sales rose 7% from a year earlier and were up 3% versus 2019.\nAt Banana Republic, which focuses more on selling work wear for women, comparable sales rose 28% from year-ago levels and fell 10% on a two-year basis.\nComparable sales at Athleta, Gap’s rival to Lululemon and Nike for women, increased 2% from a year earlier and rallied 41% versus 2019.\nGap’s expectations for adjusted full-year earnings have been lowered to a range of $1.25 to $1.40 per share, from a prior range of $2.10 to $2.25 a share. Analysts had expected Gap to earn $2.20 per share, Refinitiv said.\nGap said its revised outlook takes into account roughly $550 million to $650 million of lost sales from supply chain constraints and about $450 million in air freight costs for the year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":598,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Gap's quarter results missed estimates,and slashed its full-year outlook

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