Gap Surprises With Early Q2 Earnings, Raises Annual Margin Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Gap, Inc. (NYSE:GAP) reported better-than-expected Q2 earnings, with EPS of 54 cents and sales of $3.72 billion, surpassing analyst expectations. The company raised its FY24 margin outlook, driven by strong performances from Old Navy and Gap, and improved operating and gross margins. GAP shares rose 2.54% following the news.
August 29, 2024 | 5:26 pm
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Gap, Inc. exceeded Q2 earnings expectations with EPS of 54 cents and sales of $3.72 billion, leading to a 2.54% increase in share price. The company also raised its FY24 margin outlook, indicating strong future performance.
Gap's strong Q2 performance, with earnings and sales surpassing expectations, and an improved FY24 margin outlook, positively impacts investor sentiment, leading to a rise in share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100