San Francisco–based Gap (GPS) reported its results for 3Q17 on November 16, 2017. The results pertain to the three-month period ending October 28, 2017.
As in the first two quarters of the current fiscal year, the company beat Wall Street revenue and earnings expectations. Total sales rose 1.1% YoY (year-over-year) to $3.8 billion, $80 million higher than the consensus expectation.
Its adjusted EPS (earnings per share) stood at $0.58, surpassing the consensus forecast of $0.54, but falling 3.3% from 3Q16. Management once again raised its earnings guidance.
As a result, Gap stock surged 7.7% in after-hours trading. Read through this series to learn about the company’s performance, its revised guidance, year-to-date stock market performance, valuation, and Wall Street recommendations.
Gap is a global apparel retailer with a presence in around 90 countries. It is the owner of The Gap, Banana Republic, and Old Navy. Under these brands, the company sells apparel, accessories, and personal care products through its 3,200 company-operated stores, 450 franchise stores, and e-commerce websites. Investors seeking exposure to Gap could opt for the First Trust Consumer Discretionary AlphaDEX ETF (FXD), which has a 1.1% exposure to the company.