Gap meets 2Q profit expectations, misses revenue forecasts

According to Zacks, “Gap reported dismal sales results for July and the second quarter of fiscal 2015, thereby continuing with its negative comps trend”. The company’s stock had a trading volume of 6,368,869 shares.

Gap Inc. on Thursday affirmed its earnings projections for the year, while reporting earnings and sales for the second quarter that matched the downbeat outlook it gave earlier this month. The Company shares has received a rating of Buy from 3 Wall Street Analysts. Jefferies Group reissued a “buy” rating and set a $50.00 price objective on shares of Gap in a report on Thursday, June 18th. The rating by the firm was issued on August 11, 2015. Twenty-nine analysts polled by Thomson Reuters had a consensus earnings estimate of $0.64 per share for the quarter. However, revenue was below forecasts and Deere also lowered its forward guidance. On the date of report, the stock closed at $35.45. Around 10% of the company’s shares, which are float, are short sold. The shares were sold at an average price of $38.37, for a total value of $44,394.09. Excluding the negative impact from strategic moves including lease buyouts, asset impairments, and employee-related costs, adjusted diluted earnings per share were 64 cents, meeting analysts’ estimates.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. In this transaction, 535 shares were sold at $39 per share. The ex-dividend date of this dividend is Monday, October 5th. The stock, however, gained $0.09 or 0.27% in after-hours trade.

Gap Inc.is taking a page out of the fast fashion book. JP Morgan decreased price target from $40 to $29. Its omni-station services include order-in-store, reservation-in-store, locate-in-store and boat-from-store which are tailored across its portfolio of brands.

Gap Inc’s relatively expensive brands – Gap and Banana Republic – have struggled to garner customer attention for some time now, due to the lack of fashion relevant to prevailing consumer tastes. Gap contains GapMaternity, babyGap, GapKids, GapBody and GapFit selections. Additionally, it offers handbags, shoes, jewelry, eyewear and personal care products, among others. Gap Inc. offers apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands. It has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, China, and Italy.