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8-K: Gap Inc. Reports Second Quarter Fiscal 2024 Results, Provides Updated Full Year Outlook

8-K: Gap Inc. Reports Second Quarter Fiscal 2024 Results, Provides Updated Full Year Outlook

8-K:Gap Inc. 公布2024财年第二季度业绩,提供最新的全年展望
美股SEC公告 ·  2024/08/29 23:15

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Gap Inc. delivered strong Q2 fiscal 2024 results with net sales increasing 5% to $3.7 billion and comparable sales up 3% YoY. Operating margin improved significantly to 7.9%, up 490 basis points from last year. The company reported net income of $206 million and diluted EPS of $0.54.Old Navy led performance with 8% sales growth and 5% comparable sales increase, marking its fourth consecutive quarter of positive comps. Gap brand achieved 3% comparable sales growth, while Banana Republic sales remained flat. Athleta saw a 4% decline but is expected to return to positive growth for the remainder of the year.Based on strong Q2 performance, Gap raised its fiscal 2024 outlook, now projecting gross margin expansion of approximately 200 basis points and operating income growth in the mid to high 50% range. The company maintains a solid financial position with $2.1 billion in cash and equivalents, up 59% YoY, while inventory decreased 5% compared to last year.
Gap Inc. delivered strong Q2 fiscal 2024 results with net sales increasing 5% to $3.7 billion and comparable sales up 3% YoY. Operating margin improved significantly to 7.9%, up 490 basis points from last year. The company reported net income of $206 million and diluted EPS of $0.54.Old Navy led performance with 8% sales growth and 5% comparable sales increase, marking its fourth consecutive quarter of positive comps. Gap brand achieved 3% comparable sales growth, while Banana Republic sales remained flat. Athleta saw a 4% decline but is expected to return to positive growth for the remainder of the year.Based on strong Q2 performance, Gap raised its fiscal 2024 outlook, now projecting gross margin expansion of approximately 200 basis points and operating income growth in the mid to high 50% range. The company maintains a solid financial position with $2.1 billion in cash and equivalents, up 59% YoY, while inventory decreased 5% compared to last year.
Gap Inc. 在2024财年第二季度交出了强劲的业绩,净销售额增长了5%,达到37亿美金,同比可比销售额上升了3%。营业利润率显著提高至7.9%,较去年上升了490个基点。公司报告的净利润为20600万美元,摊薄后每股收益为0.54美金。Old Navy 的业绩领先,销售增长8%,可比销售额增长5%,这是其连续第四个季度实现正增长。Gap 品牌实现了3%的可比销售额增长,而 Banana Republic 的销售保持平稳。Athleta 销售下降了4%,但预计在今年余下的时间里将恢复正增长。基于强劲的第二季度表现,Gap 上调了2024财年的前景,目前预计毛利率将扩展约200个基点,营业收入增长将在中高50%的区间内。该公司保持了稳健的财务状况,现金及现金等价物达到21亿美金,同比上升59%,而库存较去年下降了5%。
Gap Inc. 在2024财年第二季度交出了强劲的业绩,净销售额增长了5%,达到37亿美金,同比可比销售额上升了3%。营业利润率显著提高至7.9%,较去年上升了490个基点。公司报告的净利润为20600万美元,摊薄后每股收益为0.54美金。Old Navy 的业绩领先,销售增长8%,可比销售额增长5%,这是其连续第四个季度实现正增长。Gap 品牌实现了3%的可比销售额增长,而 Banana Republic 的销售保持平稳。Athleta 销售下降了4%,但预计在今年余下的时间里将恢复正增长。基于强劲的第二季度表现,Gap 上调了2024财年的前景,目前预计毛利率将扩展约200个基点,营业收入增长将在中高50%的区间内。该公司保持了稳健的财务状况,现金及现金等价物达到21亿美金,同比上升59%,而库存较去年下降了5%。
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