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.
Fashion | On 29th Aug 2016
Dutch designer Jalila Essaïdi has developed a new material using cow...
Textiles | On 29th Aug 2016
NITI Aayog’s proposal to build a mega textile city on the lines of...
Apparel/Garments | On 29th Aug 2016
The National Retail Federation (NRF), an apex body of US retailers,...
‘As a brand, Puma is always looking for new and innovative ways to inspire ...
Sunil Kumar Sharma
Loknayak JPNSSSG Ltd
'The blend of cotton–linen yarn has high demand in the domestic and...
Studio Priyanka Rajiv
‘To reinvent the age-old tradition of embroidery to suit demographics and...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
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...
Label Ritu Kumar
‘Classics will return’ "There are a lot of people wearing western clothes ...
"We should not compare India and the West. There are things we do that...
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
Apparel/Garments | On 26th Aug 2016