Home / Knowledge / News / Apparel/Garments / Garment retailer Gap hikes Q3FY14 EPS guidance
Garment retailer Gap hikes Q3FY14 EPS guidance
10
Nov '14
For the third quarter of fiscal year 2014, NYSE listed and clothing retailer, Gap expects diluted earnings per share (EPS) to be in the range of $0.78 to $0.79, up from $0.72 in same quarter of fiscal year 2013.

“Third quarter of fiscal 2014 diluted earnings per share range includes a non-recurring benefit of about $0.06, benefitting from a lower effective tax rate,” Gap said.

The retailer added that, it also expects both, gross margin rate and operating expenses in the third quarter, to be better compared to guidance given alongside its September 2014 sales announcement.

Meanwhile, for the four-week period ended November 1, 2014, sales fell 2.32% to $1.26 billion, from $1.29 billion for the four-week period ended November 2, 2013.

Comparable sales for October 2014 were down 3 percent compared to a 4 percent increase in October 2013.

“While we were disappointed in our October sales results, particularly at Gap brand, we look forward to presenting better collections for the holiday season across all brands," said CEO, Glenn Murphy.

For the third quarter of fiscal year 2014, Gap’s net sales were marginally down to $3.97 billion compared with $3.98 billion, for the third quarter last year.

Comparable sales for the third quarter of fiscal year 2014 were down 2 percent against a 1 percent increase in the corresponding quarter of last year. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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