GAP posts
FeedPosted Nov 21st 2009 9:40AM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Dell (DELL), Target Corp. (TGT), Gap Inc (GPS)
Here are some highlights from this past week's earnings coverage on BloggingStocks:
- ADC Telecommunications Inc. (ADCT) posted a surprise net loss for Q4 and predicted a loss in Q1.
- BJ's Wholesale Club Inc. (BJ) shares fell after Q3 earnings met expectations and offered guidance for FY.
- Dell Inc. (DELL) posted lower-than-expected Q3 earnings, prompting a sell-off of shares.
- Foot Locker Inc. (FL) said Q3 earnings slumped more than analysts' forecast, sending shares lower.
- Gap Inc. (GPS) reported growth of EPS and revenue in Q3 and announced a share buyback program.
Continue reading Earnings highlights: Dell, Foot Locker, Gap, Lowe's, Saks, Target ...
Posted Nov 15th 2009 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Forecasts, Home Depot (HD), Target Corp. (TGT), Sears Holdings (SHLD), Gap Inc (GPS)
On the heels of last week's better-than-expected earnings results from retailers Abercrombie & Fitch Co. (ANF), Kohl's Corp. (KSS), Macy's Inc. (M), Urban Outfitters Inc. (URBN) and Wal-Mart Stores Inc. (WMT) -- as well as disappointing numbers from Blockbuster Inc. (BBI) and JCPenney Co. Inc. (JCP) -- the coming week will bring results from more shopping- and strip-mall favorites.
TJX Companies Inc. (TJX), which operates T.J. Maxx and Marshalls stores in the U.S., settled a class action, announced share buybacks and raised its guidance in the third quarter. For the three months that ended in October, analysts surveyed by Thomson Reuters expect TJX to report earnings of $0.80 per share, up from $0.57 in the same period of last year. Revenue is expected to total $5.3 billion, or 10.2% higher than a year ago. So far, the full-year forecast is for a profit of $2.59 per share (+22.3%) on $20.0 billion (+5.5%) in sales.
Continue reading The week in preview: More retail earnings: Gap, Home Depot, Sears, Target ...
Posted Nov 13th 2009 6:00PM by Steven Mallas (RSS feed)
Filed under: Earnings reports, Aetna Inc (AET), Gap Inc (GPS), Kohl's Corp (KSS), Abercrombie and Fitch (ANF), American Eagle Outfitters (AEO)
Back in August, I discussed my amazement at Abercrombie & Fitch (ANF). The stock just didn't seem to be acting in a manner which reflected the fundamentals of the business it represents. Well, my bout of amazement continues, because shares of the retailer are up 9% as of this writing on the latest earnings report. One that didn't impress me.
For the third quarter, Abercrombie made, on a reported basis, 44 cents per diluted share compared to 72 cents per diluted share in the year-ago period. After adjustments, earnings came in at 30 cents per share. Okay, that profit drop is bad enough, but wait till I get to the really bad stuff. Which would be revenues. Total sales declined 15%, but same-store sales were even worse: they plunged off the proverbial cliff, falling 22%.
Continue reading Abercrombie & Fitch: A momentum play after Q3 release?
Posted Nov 7th 2009 11:20AM by Tom Johansmeyer (RSS feed)
Filed under: Costco Wholesale (COST), Gap Inc (GPS), Federal Reserve, Recession
Consumer borrowing fell for the eighth straight month in September. This record-setting streak is due largely to tightening by lenders, unemployment and the conservative preference to pay down debt rather than spend. This widespread fit of fiscal responsibility, economists fret, could prevent a recovery from taking root, since consumer spending is responsible for 70% of the U.S. economy. This conventional thinking, of course, overlooks the fact that an eventual increase in spending that isn't fueled by consumer spending will yield a recovery that's more likely to last.
According to the Federal Reserve, borrowing fell at an annual rate of $14.8 billion in September -- it's biggest drop since July and much larger than the $10 billion predicted by economists. The behavior is exactly what you'd find in people worried about losing their jobs or focused on rebuilding safety funds and investment portfolios. Those who want to borrow are finding banks won't be complicit this time, as they clamp down on lending practices.
Continue reading Consumer spending falls victim to debt repayment
Posted Nov 6th 2009 11:40AM by Tom Johansmeyer (RSS feed)
Filed under: Wal-Mart (WMT), Target Corp. (TGT), Costco Wholesale (COST), Gap Inc (GPS), Nordstrom, Inc (JWN)
There's a chill in the air and a slight up-tick in confidence. Holiday discounts are coming a bit earlier, too. For retailers, this has been a great combination, leading to the second consecutive month in which retail sales increased.
This follows more than a year of drops. Consumers aren't going crazy, but they are loosening their wallets a little bit. Consumer spending accounts for 70% of the U.S. economy, and the coming holiday season is where the action is -- for the retail sector and, consequently, for everyone else.
Continue reading Retail sales: Signs of life, but not yet a rising tide
Posted Oct 13th 2009 11:10AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Citigroup Inc. (C), Goldman Sachs Group (GS), Analyst initiations
Analyst upgrades:
- Credit Suisse upgraded Stancorp (NYSE: SFG) to Outperform from Neutral citing relative valuation and EPS visibility.
- Jefferies upgraded Cypress Semiconductor (NYSE: CY) to Hold from Underperform after its channel checks indicated the company's capacitive touch screen solution has design traction. The firm raised its target on shares to $10 from $7.50.
- FBR Capital upgraded Pacific Sunwear (NASDAQ: PSUN) to Outperform from Market Perform to reflect improving store channel checks, the company's brand focus and controlled inventory, as well as the firm's belief that guidance could be conservative. FBR raised its target on shares to $9 from $6.
- Advanced Micro (NYSE: AMD) was upgraded to Market Perform from Underperform at JMP Securities.
- Lam Research (NASDAQ: LRCX) was upgraded to Overweight from Equal Weight at Barclays.
- Philips Electronics (NYSE: PHG) was upgraded to Buy from Hold at RBS.
Continue reading Analyst upgrades, downgrades and initiations: AMD, C, GAP, GS, MET, PSUN, USB ...
Posted Sep 28th 2009 4:20PM by Tom Taulli (RSS feed)
Filed under: Gap Inc (GPS), Small business

Back in the late 1960s -- when the hippie movement was in full force -- Donald Fisher
started a blue jeans store in San Francisco. Yes, it eventually turned into a retail empire, called
The Gap (NYSE:
GPS). The company now has more than 3,100 stores and $14.5 billion in revenues.
Unfortunately, Fisher died over the weekend. He was 81.
When Fisher started his business, he had no experience in the retail trade. Instead, his background was in real estate.
But this was no problem. Like any good entrepreneur, he saw a mega opportunity -- that is, a change in the fashion habits of the masses. After all, the Gap stands for "generation gap." And the Baby Boomers were certainly ripe customers -- and willing to pay.
Continue reading Donald Fisher, legendary retail giant, dies
Posted Sep 4th 2009 9:30AM by Tom Johansmeyer (RSS feed)
Filed under: Target Corp. (TGT), Gap Inc (GPS), Abercrombie and Fitch (ANF), Housing, Recession
Retail sales were down for the twelfth month in a row in August, according to an Associated Press report. Consumers stayed focused on what they need rather than what they want, as unemployment remains high and even those employed worry about the future of their jobs.
The silver lining, though, is that the coming holiday season might not be as bad as many thought.
Some retailers actually showed gains. TJMaxx (NYSE: TJX) and Old Navy, a Gap (NYSE: GPS) company, for example, saw year-over-year sales increases, though upscale stores generally sustained declines. The action on the discount side could be an early sign that the consumer is ready to play.
Continue reading Twelve straight months of retail sales declines
Posted Aug 22nd 2009 12:10PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Hewlett-Packard (HPQ), Home Depot (HD), Target Corp. (TGT), Penney (J.C.) (JCP), Agilent Technologies (A), Sears Holdings (SHLD), Lowe's Cos (LOW), Limited Brands (LTD), Deere and Co (DE), salesforce.com inc (CRM), Trina Solar ADS (TSL)
Continue reading Earnings highlights: B&N, Deere, Heinz, Home Depot, HP, Sears, Target ...
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