Net sales for the third quarter, which ended October 27, 2012, increased 8 percent to $3.86 billion compared with $3.59 billion for the third quarter last year. The company’s third quarter comparable sales increased 6 percent. Net income for the third quarter was $308 million, up 60 percent compared with the third quarter last year. Third quarter diluted earnings per share rose 66 percent to $0.63 compared with $0.38 last year.
“We're very pleased with our strong third quarter financial performance, highlighted by how well customers have responded to our product,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We are ready to compete and win this holiday season as we drive to build upon our top line growth.”
Given its progress year-to-date, the company raised its estimate for fiscal year 2012 diluted earnings per share to be in the range of $2.20 to $2.25. It also increased its fiscal year 2012 operating margin guidance from about 11 percent to about 12 percent.
Third Quarter Financial and Business Highlights
Third Quarter Comparable Sales Results
Comparable sales for the third quarter of fiscal year 2012 were as follows:
Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands.
Apparel/Garments | On 25th Jun 2016
The Apparel Export Promotion Council (AEPC) expressed its...
Textiles | On 25th Jun 2016
The global yarn production increased by 20 per cent...
Everflow Petrofils Ltd
What are the latest technological innovations in the spinning industry?...
How is the market for personalised prints on garment shaping up? What are...
There are quite a number of brands stepping into the sports lifestyle...
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Somaiya Kala Vidya
Among the many honours showered on Frater, including Fulbright and Ford...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...