>>
Rewind 2021 and prospects for 2022 Rewind 2021 and prospects for 2022
Home / Knowledge / News / Apparel/Garments / Q3 FY17 comparable sales at Gap up 3%
Q3 FY17 comparable sales at Gap up 3%
22
Nov '17
Courtesy: Gap Inc
Courtesy: Gap Inc
The comparable sales of Gap Inc., a leading global retailer offering clothing, accessories, and personal care products for men, women, and children, for the third quarter of 2017 was up 3 per cent as against 1 per cent decrease in the same period last year, which excluded an estimated negative impact from the Fishkill distribution centre fire.

Net sales for the third quarter of fiscal 2017 stood at $3.84 billion compared to $3.80 billion for the third quarter of fiscal 2016. The company’s operating margin for the reported period was 9.8 per cent compared with 10.2 per cent last year or 11.0 percent last year on an adjusted basis.

The company raised its reported diluted earnings per share guidance for fiscal 2017 to be in the range of $2.18-$2.22. Adjusted to exclude the second quarter benefit from insurance proceeds related to the Fishkill fire of about $0.10, the company now expects adjusted diluted earnings per share to be in the range of $2.08-$2.12.

Third quarter 2017 operating expenses were $1.15 billion compared to $1.10 billion last year. Excluding restructuring costs of $36 million recorded in the third quarter of 2016, operating expenses were up about $80 million when compared with last year on an adjusted basis. The company noted the increase in adjusted operating expenses was primarily driven by an increase in marketing and payroll, largely due to bonus, as well as investments in digital and customer initiatives that support the company’s balanced growth strategy.

"Today, we are happy to report our fourth consecutive quarter of positive comps, reflecting the continued momentum in key parts of our business," said Art Peck, president and chief executive officer, Gap Inc.

"We continue to make progress against the balanced growth strategy we outlined in September, driving efficiency at our more mature brands, while growing our footprint in the value and active space, and investing in our online and mobile experience," concluded Peck.

Fiscal year-to-date 2017 capital expenditures were recorded at $463 million. The company continues to expect capital spending to be approximately $625 million for 2017, excluding costs associated with the rebuilding of the company’s Fishkill, New York distribution centre campus and related supply chain spend, which is now estimated to be about $175 million. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 28th Jan 2022

Real US GDP rose at 6.9% annual rate in Q4 2021: BEA

Real US gross domestic product (GDP) increased at an annual rate of...

Pic: Shutterstock

Apparel/Garments | On 28th Jan 2022

Egypt’s garment exports rise by 41% to $2.49 bn in 2021 over 2020

The Egyptian apparel sector’s exports rose by 41 per cent in 2021 to...

Pic: Prasit Rodphan | Dreamstime.com

Textiles | On 28th Jan 2022

Cambodia-Vietnam trade volume touches $9.3 bn in 2021

Cambodia-Vietnam trade volume touched $9.3 billion last year—a rise...

Interviews View All

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

K Madhavan,

K Madhavan

Established in 2005 by P Manjunath, Peps is India's largest inner spring...

Ingo Soller, TWE Group

Ingo Soller
TWE Group

The TWE Group is one of the leading global players in the nonwovens...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Payal Singhal, Label - Payal Singhal

Payal Singhal
Label - Payal Singhal

Leading South Asian fashion designer, <b>Payal Singhal </b>known for her...

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

Leave your Comments

ESTEEMED CLIENTS

Guess Europe Sagl,
Grasim Industries Limited
The Top Form Brassiere Manufacturing Company Limited
Seasalt Limited
J ;& P Coats
Sportswear Company Spa
SHAHI Exports Pvt Ltd
Varner AS Retail
Gloria Jeans
MAS Active / MAS Kreeda / MAS Bodyline
Vardhman Textile Ltd
IDH – The Sustainable Trade Initiative
Arvind Limited
Sportmaster Ltd.
Helly Hansen Far East Ltd
Tory Burch Hong Kong Ltd
Green Fibre
Calvin Klein
Etam Group Strategy Hong Kong Limited
Truetzschler India Private Limited
Groz-Beckert East Asia LLP
Puma
Sateri (Jiujiang) Fiber Co.,Ltd
Cat Tuong Real Estate Group Joint Stock Company
Bluestem Global Sourcing Limited
Asos
Brandix Lanka Limited
Vianney Textil Hogar S.A. De C.V.
Sainsbury's Argos Asia Limited
T.T. Limited
Amazon China
Gokaldas Exports Limited
Page Industries Limited (Bangalore)
Esprit Europe Services GmbH
NITI Aayog
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Under Armour Global Sourcing Ltd
Restoque S.A.
International Textile Manufacturers Federation
Huntsman (Singapore) Pte Ltd
Permoda(Koaj/Armi/Pronto/Bkul)
Reiter India Private Limited
Lenzing Aktiengesellschaft
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
BIMBA ;& LOLA SL
Chico’ FAS
Desigual - ABASIC, S.A.
Tchibo GmbH
Maceton Limited
Splash
Aramark Uniform ;& Career Apparel, LLC
Tommy Hilfiger
Gap International Sourcing Limited
TESCO INTERNATIONAL SOURCING LIMITED
G-Star Raw C.V.
Walmart
C;&A Sourcing International Ltd
Decathlon
H;&M Hennes ;& Mauritz (Far East) Ltd
Phong Phu international JSC (PPJ)
Midas Clothing Limited
Lifestyle
Landmark Group
Boardriders Asia Sourcing Limited
John Varvatos
LC Waikiki
Alix Partners
Recron Polyester from Reliance Industries Limited
The LYCRA Company Singapore  Pte. Ltd
Benetton Group
Rosset ;& Cia Limited
KIABI
Abit
Eastman Chemical Company
KAS Direct Sourcing
Rayonese Textile Inc., Division de Culp Inc.
SYNERGIES HONG KONG LIMITED
BIANCA
Hela Clothing Pvt Ltd
Babyshop
OVS Hong Kong Sourcing Ltd.
Target Corporation (MN)
THE BOMBAY DYEING ;& MFG.CO. LTD
Gatsby Africa
Alison Hayes Romania
Lululemon Athletica Inc
Lisa S.P.A.
Chori Company Limited
IKEA of Sweden AB
Hirdaramani International Export Private Limited

January 2022

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


Advanced Search