Gap Shares Rally in Extended Trade After Reporting Strong Q2 Results

    Author Caroline HarrisPosted on Categories Retail, ConsumerTags , , , , , , , , , , , , , , , , , , ,
    Q2

    Gap, Inc. (NYSE:$GPS) shares rallied during Thursday’s extended trading session after the San Francisco-based company reported better-than-expected Q2 results and boosted its 2017 earnings outlook.

    Important Q2 Numbers:

    – Earnings more than doubled to $271 million (68 cents a share) from $125 million (31 cents a share) in 2016.

    – In regards to an adjusted basis, Gap would have brought in 58 cents.

    – Revenue dropped to $3.8 billion from $3.85 billion

    – Same-store sales rose 1% in Q2, which is an improvement from a decline of 2% in the same period in 2016

    2017 Guidance:

    – Gap boosted its 2017 adjusted EPS to a range of $2.02 to $2.10 versus May’s projections of $1.95 to $2.05.

    After hours, Gap shares jumped 11%.

    Q2

    Featured Image: twitter

    Author Caroline Harris
    About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.