×
1 017
Fashion Jobs
LEVI'S
Performance Marketing Manager
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Bentalls, Kingston - 22.5 Hours / 4 Days - Part Time, Permanent
Permanent · Kingston upon Thames
SHISEIDO
Ecommerce Manager - Nars, Shiseido & Drunk Elephant
Permanent · London
VANS
Account Coordinator - Dutch Speaking - Vans
Permanent · NOTTINGHAM
ESTÉE LAUDER
The Estée Lauder Companies - CRM And Loyalty Manager
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Bluewater - 25.5 Hours - Part Time, Permanent
Permanent · Dartford
ESTÉE LAUDER
Clinique - Consultant - Boots - Metro, Gateshead - 21 Hours - Part Time, Permanent
Permanent · Gateshead
ESTÉE LAUDER
Director, Global Social Marketing
Permanent · London
ESTÉE LAUDER
Tom Ford - Business Manager - John Lewis, Milton Keynes - 37.5 Hours, Days - Full Time, Permanent
Permanent · Milton Keynes
SHISEIDO
Nars Account Manager, Fenwick Bond Street (37.5 Hours)
Permanent · London
LIBERTY LTD
Sales Manager
Permanent · LONDON
LIBERTY LTD
Retail Security Officer
Permanent · LONDON
VF INTERNATIONAL
Inbound Logistics Analyst - 12 Month Ftc
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Trainer
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTÉE LAUDER
Clinique - Consultant - Boots, White City London - 35 Hours - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Harvey Nichols, Birmingham - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Birmingham
ESTÉE LAUDER
Regulatory Scientist - Global Ingredients Compliance
Permanent · Petersfield
SHISEIDO
Finance Analyst
Permanent · London
SHISEIDO
Area Sales & Education Manager | Central South England (Ftc)
Permanent · Reading
HUGO BOSS
Sales Manager - Hugo
Permanent · London
ASICS
Field Sales Representative
Permanent · Warrington
By
Reuters
Published
Nov 5, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gap Inc shares up as October sales beat Wall St view

By
Reuters
Published
Nov 5, 2009

By Nicole Maestri

NEW YORK (Reuters) - Gap Inc's (GPS.N) October sales surpassed analyst expectations and the clothing retailer forecast quarterly earnings above current Wall Street estimates, sending its shares up nearly 4 percent.

Gap
www.Gap.com

Gap's same-store sales rose 4 percent after plunging 16 percent in October 2008. Analysts had forecast a 1.6 percent rise in same-store sales, according to Thomson Reuters data.

"We're pleased that we grew sales in October while delivering merchandise margins significantly above last year," Chief Financial Officer Sabrina Simmons said in a statement.

Same-store sales rose at the Old Navy and Banana Republic chains in North America, but fell at Gap stores in North America and in the company's international segment. Traffic was down at Gap and Banana Republic, but up at Old Navy.

"Gap Inc.'s October comps were slightly better than our expectation, driven by continued sales momentum at Old Navy, well-positioned as the low-cost provider of apparel for the whole family, and a return to positive comps at Banana Republic," wrote Stifel Nicolaus analyst Richard Jaffe.

Jaffe, who raised his price target on the retailer's shares to $28 from $24, said the Gap division's launch of premium jeans has been well received, and he expects better same-store sales in the fourth quarter.

The retailer said it would kick off Gap's holiday television advertising campaign on November 12, and it will running Old Navy's holiday season TV ads for two weeks longer than it did last year.

It also forecast third-quarter earnings of 42 cents to 44 cents per share, above analysts' average forecast of 38 cents.

Gap shares rose 3.8 percent, or 84 cents, to $22.93 in afternoon trading.

(Additional reporting by Jessica Wohl in Chicago, editing by Maureen Bavdek)

© Thomson Reuters 2022 All rights reserved.