Gap (NYSE:GPS) earnings for the apparel retailer’s fiscal fourth quarter of 2019 have GPS stock up in after-hours trading on Thursday. This comes after reporting adjusted earnings per share of 53 cents on revenue of $4.00 billion. For comparison, Wall Street was looking for adjusted EPS of 51 cents on revenue of $3.96 billion for the quarter.
Let’s see what else happened during the fiscal Q4 Gap earnings report.
- Adjusted per-share earnings are down 23.19% from 69 cents during the same time last year.
- Revenue is sitting about the same as it was in the third quarter of 2018.
- Operating income of $221 million is a 39.12% decrease YoY from $363 million.
- The Gap earnings report also has net income coming in at $140 million.
- This is a 47.36% drop compared to its net income of $266 million from the same period of the year prior.
Robert Fisher, interim President and CEO of Gap, says this about the GPS stock earnings.
“We are not pleased with the third quarter results and are focused on aggressively addressing the operational issues that are hindering the performance of our brands. We continue to make progress against our separation plans, which will provide improved focus and a further catalyst for transformation.”
The Gap earnings report also has the company reaffirming its outlook for 2019. That includes its adjusted EPS estimate of $1.70 to $1.75. Wall Street is looking for $1.74 for the year.
GPS stock is up 3.58% in after-hours trading on Thursday. The stock closed out the day down slightly. It’s also down 36.78% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.