Gap Inc. Reports 12% Retreat In Q2 Bottom Line

(RTTNews) - Gap Inc. (GPS) revealed earnings for second quarter that dropped compared to the same period last year.

The company said its profit declined to $238 million, or $0.60 per share. This was lower than $270 million, or $0.64 per share, in last year's second quarter.

Analysts had expected the company to earn $0.59 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.3% to $3.85 billion. This was down from $3.90 billion last year.

Gap Inc. earnings at a glance:

-Earnings (Q2): $238 Mln. vs. $270 Mln. last year. -Earnings Decline (Y-o-Y): -11.9% -EPS (Q2): $0.60 vs. $0.64 last year. -EPS Decline (Y-o-Y): -6.2% -Analysts Estimate: $0.59 -Revenue (Q2): $3.85 Bln vs. $3.90 Bln last year. -Revenue Change (Y-o-Y): -1.3%

-Guidance: Next quarter revenue guidance: $1.87 - $1.92