Interviews
Gap Inc reports below expectation Q3 results
18 Nov '05
3 min read
During the third quarter, the company repurchased 9.9 million shares for $188 million.
Since October 2004, the company has utilized $2.7 billion to repurchase 129 million shares.
At the end of the third quarter, the company's outstanding shares were 872 million.
The company declared a dividend during the third quarter, doubling the prior year amount from $0.0222 to $0.045 per share.
Gross margins declined 4.0 points in the third quarter compared to the prior year, due primarily to increased promotions and markdown driven by disappointing customer response to fall product.
The operating margin for the third quarter was 8.8 percent compared with 11.5 percent for the same period last year.
The company now expects full year 2005 operating margins of about 10 to 10.5 percent, down from its previous guidance of about 11.5 percent.
Leading specialty retailer Gap Inc offers clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy and Forth & Towne brands.
Since October 2004, the company has utilized $2.7 billion to repurchase 129 million shares.
At the end of the third quarter, the company's outstanding shares were 872 million.
The company declared a dividend during the third quarter, doubling the prior year amount from $0.0222 to $0.045 per share.
Gross margins declined 4.0 points in the third quarter compared to the prior year, due primarily to increased promotions and markdown driven by disappointing customer response to fall product.
The operating margin for the third quarter was 8.8 percent compared with 11.5 percent for the same period last year.
The company now expects full year 2005 operating margins of about 10 to 10.5 percent, down from its previous guidance of about 11.5 percent.
Leading specialty retailer Gap Inc offers clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy and Forth & Towne brands.
Gap Inc
Popular News
Leave your Comments
Editor’s Pick
Jason Kent
British Textile Machinery Association (BTMA)
Fan Liyuan
JIANGSU YINGYANG NONWOVEN MACHINERY CO., LTD
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
