×
221
Fashion Jobs
CORPORATE MANPOWER
Requirement - Operations Manager
Permanent · Kolkata
DR LAL PATHLABS
Area Sales Manager - Vijayawada
Permanent · Vijayawada
SNAPSEAARCH
sr Production Manager For Hyderabad _api
Permanent · Hyderabad
ALLEGIS GROUP
Opening For Sales Manager - Chennai
Permanent · Chennai
GOODWEAR FASHIONS
Fresh Trainee Customer Service
Permanent · NEW DELHI
ADIDAS
Manager HR
Permanent · BENGALURU
SV MANAGEMENT CONSULTANTS
dy. Manager/ Shift in Charge - Production - Indore
Permanent · Indore
UNISON INTERNATIONAL CONSULTING
Garment Technician
Permanent · National Capital Region
WAYCOOL FOODS AND PRODUCTS
Area Sales Manager/ Sales Officer
Permanent · Chennai
VAMSHA RETAIL VENTURES
Foor Manager - Retail Garment Showroom
Permanent · Mayiladuthurai
VAMSHA RETAIL VENTURES
Branch Manager - Retail Garment Showroom
Permanent · Mayiladuthurai
HERITAGE FOODS
Required Area Sales Manager - Vijayawada @ Heritage Foods Ltd
Permanent · Vijayawada
RASHMI GROUP MUMBAI
Sales Managers/ Executives (Real Estate) Location: Vasai
Permanent · Mumbai
DTDC EXPRESS
Sales Manager
Permanent · National Capital Region
RJCUBE STAFFING SOLUTIONS
Senior Garment Technician For Buying House, Noida Sector 59
Permanent · Noida
HIRING PLUS HR SOLUTION
Icici / Sales Manager / Home Loan ,
Permanent · Vadodara
TALENT CORNER HR SERVICES
Production Manager
Permanent · Bhiwandi
ABS HR SOLUTIONS
Asst. Manager Forecasting, Merchandising &Scm For Beauty Brand(Gurgaon
Permanent · National Capital Region
MANPOWERGROUP SERVICES INDIA
Unit Sales Manager-Field
Permanent · Chennai
SUPER PLAS WASTE MANAGEMENT LIMITED
Production Manager
Permanent · National Capital Region
AFT RECRUITERS
Hiring For Ecommerce Manager For Apparel Company, Jaipur
Permanent · Jaipur
INDUSIND BANK
Area Sales Manager - Loan Against Property
Permanent · Chennai
By
Reuters
Published
May 18, 2012
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gap raises profit expectations, shares rise

By
Reuters
Published
May 18, 2012

Gap Inc raised its yearly profit forecast, prompted by first-quarter earnings that topped Wall Street estimates and rising sales, sending its shares up 8 percent in extended trading.


Photo: Gap Inc


For the full year, Gap estimates earning $1.78 to $1.83 a share, above the $1.75 to $1.80 it had forecast in February.

"It's important to remain measured in our outlook given that our biggest selling seasons are still ahead of us," said Chief Financial Officer Sabrina Simmons.

The back-to-school and holiday seasons are the two biggest sales opportunities for retailers, and can make or break their yearly performance.

For the first quarter ended April 28, the owner of the Gap, Old Navy and Banana Republic chains earned $233 million, or 47 cents a share, compared with $233 million, or 40 cents a share, last year.

Analysts, on average, were expecting Gap to earn 46 cents a share, according to Thomson Reuters I/B/E/S.

After years of being accused of selling boring clothes, Gap has recently regained an edge in fashion - after a prolonged turnaround which included a change in top management.

The company's spring merchandise is selling well, and its website has been revamped with a more youthful look.

"Our product teams really stepped up in the first quarter; we've been pretty consistent since our call in February," Chief Executive Glenn Murphy said on a conference call with analysts.

"We sat down as a business and took some corrective measures in product."

Gap, the third biggest clothes retailer in the world after Zara owner by Inditex, and H&M owner by Hennes & Mauritz AB, had preannounced that sales rose 6 percent to $3.49 billion, while comparable store sales were up 4 percent.

During the quarter, sales at established North American stores rose 5 percent each for the Gap and Banana Republic brands. Sales at Old Navy stores rose 4 percent, the company said.

Gap shares rose to $28.50 after the bell. They closed down 2.9 percent at $26.31 Thursday on the New York Stock Exchange.

© Thomson Reuters 2023 All rights reserved.