Gap GPS Q1 earnings report 2023


The Gap logo is displayed at a Gap store on April 25, 2023 in Los Angeles, California.

Mario Tama | Getty Images

Gap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it’s making progress – and has managed to significantly improve its margins.

Here’s how the apparel retailer did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:

  • Earnings per share: 1 cent, adjusted (it wasn’t immediately clear whether it was comparable to estimates)
  • Revenue: $3.28 billion vs. $3.29 billion expected

For the three-month period that ended April 29, the company reported a loss of $18…

Source cnbc.com

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