Gap beats by $0.03, revs in-line with previous announcement; guides FY16 EPS in-line
Reports Q1 (Apr) earnings of $0.56 per share, $0.03 better than the previously announced $0.53-0.54 guidance; revenues fell 3.0% year/year to $3.66 bln in-line with previous guidance
Gap Inc.'s comparable sales for the 1Q15 were down 4% versus negative 1% last year. Comparable sales by global brand for Q1 were as follows:
Total online sales were $563 mln for 1Q15 compared with $575 mln in Q1 last year.
Co issues in-line guidance for FY16, sees EPS of $2.75-2.80 vs. $2.79 Capital IQ Consensus Estimate.