Gap Raises Full-Year Outlook With Strong Start to Holiday Season
Express News | US stock futures: microstrategy rose more than 3%, Gap soared more than 15% after earnings.
U.S. stock market anomaly | Gap rose more than 15% after hours, Q3 net income increased by 25.7% year-on-year + raised full-year revenue guidance.
On November 22, Gelonghui reported that the large apparel retail group Gap (GAP.US) rose over 15% after hours, reaching $25.44. In terms of news, Gap announced its third-quarter performance for the period ending November 2, with revenue increasing by 2% year-on-year to $3.8 billion, compared to market expectations of $3.81 billion. Net income grew by 25.7% year-on-year to $0.274 billion, with adjusted earnings per share of $0.72 against market expectations of $0.58. Regarding guidance, the group raised its full-year revenue guidance from slight growth to a growth of 1.5% to 2%, with market expectations for a growth of 0.4%. This marks the company's seventh adjustment this year.
The Gap, Inc. (GAP) Q3 2024 Earnings Call Transcript
Gap Says It Picked up Wealthier Shoppers, and More Market Share, Amid Weak Clothing Demand
Express News | Outfitters Gap has raised its full-year performance expectations.