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Gap Inc | 8-K: Gap Inc. Reports Third Quarter Fiscal 2024 Results, Raises Full Year Outlook

Gap Inc | 8-K: Gap Inc. Reports Third Quarter Fiscal 2024 Results, Raises Full Year Outlook

Gap Inc | 8-K:Gap Inc. 公佈2024財年第三季度業績,上調全年展望
美股SEC公告 ·  2024/11/21 15:20

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Gap Inc. delivered strong Q3 fiscal 2024 results with net sales increasing 2% to $3.8 billion and comparable sales up 1% YoY. Operating margin improved 270 basis points to 9.3%, while net income reached $274 million with diluted EPS of $0.72. Online sales grew 7%, representing 40% of total sales.The company saw market share gains across all brands, with Gap Global posting 3% comparable sales growth, Athleta up 5%, and Old Navy remaining flat. Banana Republic's comparable sales declined 1% despite a 2% net sales increase. Inventory management improvements helped drive a 90-basis point increase in merchandise margin.Based on strong performance, Gap raised its full year fiscal 2024 outlook, now projecting net sales growth of 1.5-2.0% on a 52-week basis and approximately 220 basis points gross margin expansion. The company maintains a strong financial position with $2.2 billion in cash and equivalents, up 64% from prior year.
Gap Inc. delivered strong Q3 fiscal 2024 results with net sales increasing 2% to $3.8 billion and comparable sales up 1% YoY. Operating margin improved 270 basis points to 9.3%, while net income reached $274 million with diluted EPS of $0.72. Online sales grew 7%, representing 40% of total sales.The company saw market share gains across all brands, with Gap Global posting 3% comparable sales growth, Athleta up 5%, and Old Navy remaining flat. Banana Republic's comparable sales declined 1% despite a 2% net sales increase. Inventory management improvements helped drive a 90-basis point increase in merchandise margin.Based on strong performance, Gap raised its full year fiscal 2024 outlook, now projecting net sales growth of 1.5-2.0% on a 52-week basis and approximately 220 basis points gross margin expansion. The company maintains a strong financial position with $2.2 billion in cash and equivalents, up 64% from prior year.
Gap Inc.公佈了2024財年第三季度的強勁業績,淨銷售額增長2%至38億美元,可比銷售額同比增長1%。營業利潤率提高了270個點子,達到了9.3%,而凈利潤達到了27400萬美元,攤薄後每股收益爲0.72美元。在線銷售增長了7%,佔總銷售額的40%。該公司在所有品牌中都實現了市場份額的增長,其中Gap全球品牌可比銷售額增長了3%,Athleta增長了5%,Old Navy持平。儘管淨銷售額增長了2%,但Banana Republic的可比銷售額下降了1%。庫存管理的改進幫助推動了商品毛利率增加了90個點子。基於強勁的表現,Gap提高了其2024財年的全年前景,現在預計淨銷售額在52周基礎上增長1.5-2.0%,並大約擴展220個點子的毛利率。該公司保持着強勁的財政狀況,現金和現金等價物達到22億美元,比去年增長了64%。
Gap Inc.公佈了2024財年第三季度的強勁業績,淨銷售額增長2%至38億美元,可比銷售額同比增長1%。營業利潤率提高了270個點子,達到了9.3%,而凈利潤達到了27400萬美元,攤薄後每股收益爲0.72美元。在線銷售增長了7%,佔總銷售額的40%。該公司在所有品牌中都實現了市場份額的增長,其中Gap全球品牌可比銷售額增長了3%,Athleta增長了5%,Old Navy持平。儘管淨銷售額增長了2%,但Banana Republic的可比銷售額下降了1%。庫存管理的改進幫助推動了商品毛利率增加了90個點子。基於強勁的表現,Gap提高了其2024財年的全年前景,現在預計淨銷售額在52周基礎上增長1.5-2.0%,並大約擴展220個點子的毛利率。該公司保持着強勁的財政狀況,現金和現金等價物達到22億美元,比去年增長了64%。
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