MW Gap's holiday quarter was a big win. Here's what's working for the retailer.
By Claudia Assis
Gap's stock rallies nearly 20% after hours
Gap Inc. shares rose more than 18% in the extended session Thursday after the retailer reported a holiday-quarter profit that was head and shoulders above Wall Street's expectations, and it spoke of a "reinvigoration" of its brands and guided for better sales this year.
Gap's $(GAP)$ per-share profit came in at 54 cents a share, compared with FactSet consensus for 36 cents a share.
The company reported net sales of $4.1 billion for the fourth quarter, down 3% compared with last year's fourth quarter but including a negative impact from a calendar shift that meant that 2024 had one fewer week than the previous year.
Sales hit $15.1 billion for all of 2024, up 1% compared to the prior year. Gap also guided for a 1% to 2% boost for its 2025 sales, which would compare with Wall Street expectations for a flat year for revenue.
This is a developing story. It will be updated.
-Claudia Assis
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 06, 2025 16:39 ET (21:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.