The Gap, Inc. (GPS), commonly known as Gap Inc. or Gap, is an American worldwide clothing and accessories retailer. It was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates five primary divisions: the namesake banner, Banana Republic, Old Navy, Intermix, and Athleta. Gap Inc. is behind Inditex Group and H&M in the total numbers of international locations. However, it remains the largest specialty retailer in the United States. As of September 2008, the company has approximately 135,000 employees and operates 3,076 stores worldwide, of which 2,551 are located in the U.S. The Fisher family remains deeply involved in the company, collectively owning much of its stock. Donald Fisher served as Chairman of the Board until 2004, playing a role in the ouster of then-CEO Millard Drexler in 2002, and remained on the board until his death on September 27, 2009. Fisher's wife and their son,Robert J. Fisher, also serve on Gap's board of directors. Robert succeeded his father as chairman in 2004 and also served as CEO on an interim basis following the resignation of Paul Pressler in 2007, before being succeeded by Glenn K. Murphy up until 2014. On February 1, 2015, Art Peck took over as CEO.
Gap's shares plummet after sales continue to slide The company's shares fell nearly 9 percent in after-hours trading Thursday, after the clothing retailer announced March results that show its continued sales funk. It marked its 12th consecutive monthly decline for the key revenue measure. It also warned that it was entering April with higher levels of inventory, which it said could hurt profit margins. The ailing retailer, based in San Francisco, California, said late Thursday that its revenue at stores open at least a year fell 6 percent as all three key brands— Banana Republic, Old Navy and its namesake label — suffered sales drops. Analysts were expecting a smaller 4.3 percent decline. By division, Gap's revenue at stores open at least a year fell 3 percent, while Banana Republic's key sales metric fell 14 percent and Old Navy saw a 6 percent drop. The company's total sales fell 6.5 percent to $1.43 billion for the five-week period ended April 2 compared to the year-ago period. The weak performance underscores the challenges for Gap's CEO Art Peck who assumed the helm in February 2015 and is trying to turn around the business. And Gap has struggled with management upheaval. Late last year, Stefan Larsson, Old Navy's boss who spearheaded a turnaround at the low-priced chain, left to become CEO of Ralph Lauren. Then, the creative director for the Banana Republic brand, Marissa Webb, who was hired to re-energize Banana Republic, stepped down after dismal results Peck had told investors in February that he expected that business would perk up during the spring season. But big sales signs continue to rule. At the Banana Republic store, shoppers could get 50 percent off the first purchase and a 40 percent discount off the rest of the purchases. Shares fell $2.49 to $25.19 in after-hours trading, after being down more than 4 percent, or $1.18 to close at $27.68 in regular trading. LINK - http://www.msn.com/en-us/money/comp...mmet-after-sales-continue-to-slide/ar-BBruluL
Reported after close yesterday (5/19/16) Earnings: EPS $0.32 Revenue $3.44B Estimates: EPS $0.32 Revenue $3.44B Down 0.64% pre-market
Gap says key sales measure slides 6 percent in May Gap says sales at established stores fell 6 percent in May. That was better than the 7 percent decline forecast by Thomson Reuters. Read full article here: http://www.msn.com/en-us/money/comp...es-measure-slides-6-percent-in-may/ar-BBtNQR4
I've been researching this one this morning as a long term dividend play. I'm not sold on it yet and since it is long term I don't need to be in a big rush to add it. The things I like about it is that it is paying a dividend of just over 5% yield and has been doing so with small yearly increases for the past 16 years. It also paid without any cuts during the 2008-2009 bear market. It's current payout ratio is under 50% and overall price currently is providing historical high yields which makes it a value for dividend investors. What I don't like about it is that the earnings and revenues have been falling quarter to quarter and year over year for it's 2nd year now. On the plus side of the negative it does appear that future projected earnings are starting to rise back up but slowly. So I sit and think on it a little. Price wise anything under 20 over the long term should be just fine and I do think the negative impact of projected earnings and revenue have already been priced in. What I am not sure of is whether or not a market pull back might pull it under 17.
big mover here this morning ... +12% to the good ... coming up the daily TL resistance Gap — The apparel retailer reported a three percent drop in comparable-store sales for September. That was slightly larger than the 2.9 percent Thomson Reuters consensus estimate. Comparable sales were down 10 percent at the namesake Gap brand and nine percent at Banana Republic, but were higher by four percent at Old Navy. Gap's sales were negatively impacted by an August fire at its Fishkill, N.Y., distribution center.
I find if you search for something with less than 4 characters as the symbol, you're better off going to the google search that is usable after you search. and find nothing