Gap Inc. Announces 7% Retreat In Q3 Earnings

(RTTNews) - Gap Inc. (GPS) reported a profit for third quarter that dropped compared to the same period last year.

The company said its earnings came in at $238 million, or $0.60 per share. This was down from $256 million, or $0.63 per share, in last year's third quarter.

Analysts had expected the company to earn $0.60 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.6% to $3.80 billion. This was down from $3.86 billion last year.

Gap Inc. earnings at a glance:

-Earnings (Q3): $238 Mln. vs. $256 Mln. last year. -Earnings Decline (Y-o-Y): -7.0% -EPS (Q3): $0.60 vs. $0.63 last year. -EPS Decline (Y-o-Y): -4.8% -Analysts Estimate: $0.60 -Revenue (Q3): $3.80 Bln vs. $3.86 Bln last year. -Revenue Change (Y-o-Y): -1.6%

-Guidance: Full year EPS guidance: $1.87 to $1.92