Gap Inc. Earnings Retreat 29% In Q3

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

The company said its profit came in at $248 million, or $0.61 per share. This was down from $351 million, or $0.80 per share, in last year's third quarter.

Analysts had expected the company to earn $0.63 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.8% to $3.86 billion. This was down from $3.97 billion last year.

Gap Inc. earnings at a glance:

-Earnings (Q3): $248 Mln. vs. $351 Mln. last year. -Earnings Decline (Y-o-Y): -29.3% -EPS (Q3): $0.61 vs. $0.80 last year. -EPS Decline (Y-o-Y): -23.8% -Analysts Estimate: $0.63 -Revenue (Q3): $3.86 Bln vs. $3.97 Bln last year. -Revenue Change (Y-o-Y): -2.8%

-Guidance: Full year EPS guidance: $2.38 - $2.42