Gap stock surges in late trading as retailer predicts growth in 2022
The Gap Inc. lost less money than expected in the holiday season and surprisingly beat analysts’ expectations with executives’ forecast for 2022, driving shares more than 15% higher in after-hours trading Thursday.
Analysts on average were expecting an adjusted loss of 13 cents a share on sales of $4.49 billion, after Gap’s holiday forecast for losses led to a huge decline in its stock. Shares moved higher than $16.50 in after-hours trading Wednesday immediately after the release of the results, after closing with a 2.3% loss in the regular session.
“We expect GPS provides EPS guidance below the Street’s $1.76 forecast,” UBS analysts wrote earlier this week in previewing Gap’s earnings. “We think the Street Gap executives did say that they expect supply-chain issues to continue weighing on results in the first half of the year, but expect the second half to be a part of a long-awaited turnaround for the retailer.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Houston Rodeo Gold Buckle Foodie Awards 2022Houstonians are thrilled by the return of the Houston Livestock Show and Rodeo. This year marks its 90th anniversary and celebrations have been in full force with the Rodeo Uncorked Best Bites, the Bar-B-Cue Contest and Tuesday, the Gold Buckle Foodie Awards. We had the opportunity to sit with a...
Weiterlesen »
The Best Street Style Looks From Milan Fashion Week Fall 2022We’re now hitting the home stretch of fashion month. But first, let’s appreciate the street style looks from Milan Fashion Week Fall 2022.
Weiterlesen »
Analysis | Fact-checking President Biden’s 2022 State of the Union addressHere's a round-up of seven statements in Biden's State of the Union that were wrong or lacked context.
Weiterlesen »
These are the Fall/Winter 2022-2023 Trends to Start Shopping NowThe Biggest Fall 2022 Trends From the Runways
Weiterlesen »
The Top 10 Companies Hiring for Hybrid Jobs in 2022, According to FlexJobsThese companies posted the most hybrid job openings on FlexJobs last year and are expected to continue hiring for hybrid positions at a rapid pace in 2022.
Weiterlesen »
Binance USDⓈ-Margined Futures Liquidity Provider Program Upgrade (2022-03-07) | Binance SupportFellow Binancians, As an integral part of our efforts in delivering more value to you, Binance is upgrading the USDⓈ-Margined Futures Liquidity Provider Program. Qualified liquidity providers are a...
Weiterlesen »