Gap meets 4Q profit forecasts

SAN FRANCISCO, Costa Rica – SAN FRANCISCO (AP) _ Gap Inc. (GPS) on Thursday reported fiscal fourth-quarter earnings of $214 million.

The San Francisco-based company said it had net income of 53 cents per share. Earnings, adjusted for non-recurring costs, were 57 cents per share.

The results met Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was also for earnings of 57 cents per share.

The clothing chain posted revenue of $4.39 billion in the period, falling short of Street forecasts. Ten analysts surveyed by Zacks expected $4.43 billion.

Gap expects full-year earnings to be $2.20 to $2.25 per share.

Gap shares have climbed 12 per cent since the beginning of the year, while the Standard & Poor’s 500 index has fallen 4.5 per cent. In the final minutes of trading on Thursday, shares hit $27.60, a fall of 31 per cent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GPS at


Keywords: Gap, Earnings Report, Priority Earnings