Gap Inc. Guides To High End Of Its FY15 EPS Range; Q4 Comps. Down 7%

(RTTNews) - Gap Inc. (GPS) announced it has narrowed full-year adjusted earnings per share guidance range for fiscal 2015 to $2.41 to $2.42, excluding the one-time negative impact from the strategic actions of about $0.20 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.36. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings per share to be in the range of $0.56 to $0.57. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.53.

Fourth-quarter net sales were $4.39 billion compared to $4.71 billion, prior year. On a constant currency basis, net sales decreased 5 percent for the fourth quarter. Comparable sales for the fourth quarter were down 7 percent. Analysts expected revenue of $4.46 billion for the quarter.

The company reported that net sales for the four-week period ended January 30, 2016 were $813 million compared to $888 million, last year. Comparable sales for January 2016 were down 8 percent.