Home / Knowledge / News / Apparel/Garments / Gap Q3 FY'13 EPS increases 14%
Gap Q3 FY'13 EPS increases 14%
22
Nov '13
Gap Inc. reported that third quarter diluted earnings per share increased 14 percent, to $0.72, compared with $0.63 last year, as the company continues to deliver on its goal of top-line and bottom-line growth.

The company reaffirmed its estimate for full year 2013 diluted earnings per share to be in the range of $2.57 to $2.65.

Highlights:

- Third Quarter Earnings Per Share of $0.72, a 14 Percent Increase over Last Year

- Net Sales Up 3 Percent in the Third Quarter; Up 5 Percent on a Constant Currency Basis

- Comparable Sales Up 1 Percent for the Third Quarter Versus a 6 Percent Increase Last Year

- Reaffirmed Full Year Earnings Per Share Guidance of $2.57 to $2.65

- Distributed $882 Million to Shareholders in the Quarter through Share Repurchase and

Dividends; Announced New $1 Billion Share Repurchase Authorization

Net sales for the third quarter, which ended November 2, 2013, increased 3 percent to $3.98 billion compared with $3.86 billion for the third quarter last year. Net sales increased 5 percent on a constant currency basis.

In calculating net sales growth on a constant currency basis, current year foreign exchange rates are applied to both current year and prior year net sales. This is done to enhance the visibility of underlying business trends, excluding the impact of foreign currency exchange rate fluctuations.

“This quarter marks our seventh consecutive quarter of positive comp sales growth,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We are pleased to maintain our momentum of growing sales and earnings per share this quarter.”

The company’s third quarter of fiscal 2013 comparable sales increased 1 percent versus a 6 percent increase last year. Due to the 53rd week in fiscal year 2012, comparable sales for the third quarter of fiscal year 2013 are compared with the 13-week period ended November 3, 2012.

Click here to read full results

Gap


Must ReadView All

Textiles minister Smriti Irani lighting the lamp to inaugurate the 6th edition of the International Apparel and Textile Fair ‘VASTRA 2017’, in Jaipur. Courtesy: PIB

Textiles | On 22nd Sep 2017

Placement rate in textiles sector is 70%: Indian minister

The recent high growth of foreign direct investment (FDI) in the...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Textiles | On 22nd Sep 2017

Messe Frankfurt acquires Source Africa, ATF textile shows

Messe Frankfurt, one of the world´s leading trade show organisers,...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search