Gap CEO: Holidays are off to a 'strong' start, monitoring potential tariffs

Yahoo Finance05:15

Holiday shoppers are falling into the Gap (GAP) early. "Our holiday season is off to a strong start," Gap CEO Richard Dickson told Yahoo Finance on Thursday. "It gives us the confidence to raise our ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGap CEO: Holidays are off to a 'strong' start, monitoring potential tariffs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 05:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/gap-ceo-holidays-are-off-to-a-strong-start-monitoring-potential-tariffs-211528032.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Holiday shoppers are falling into the Gap (GAP) early.\n\"Our holiday season is off to a strong start,\" Gap CEO Richard Dickson told Yahoo Finance on Thursday. \"It gives us the confidence to raise our ...</p>\n\n<a href=\"https://finance.yahoo.com/news/gap-ceo-holidays-are-off-to-a-strong-start-monitoring-potential-tariffs-211528032.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ANF","symbol_name":"爱芬奇","start_time":0,"source_url":"https://finance.yahoo.com/news/gap-ceo-holidays-are-off-to-a-strong-start-monitoring-potential-tariffs-211528032.html","article_id":"2485642325","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0tWtQIU9szZiCPgffigffg--~B/aD0zNDY0O3c9NTE5NjthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-06/a5e50140-3300-11ef-acef-fc3f5ccff29c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485642325","pubTimestamp":1732223728,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Holiday shoppers are falling into the Gap  early.\"Our holiday season is off to a strong start,\" Gap CEO Richard Dickson told Yahoo Finance on Thursday. \"It gives us the confidence to raise our expectations for the year in sales, gross margin, and operating income growth.\". Dickson's comments follow another quarterly earnings thumping. The relatively new CEO is running his playbook of improved marketing, stylish clothes that fit well, and better inventory management.Third quarter sales did, however, come in light versus estimates at Old Navy and Banana Republic. A warmer-than-expected winter has been pressuring sales of sweaters and jackets industrywide.Gap's results and guidance raise are likely to support the turnaround narrative that has lifted the stock about 16% over the past year.\"We believe management is doing the right things operationally, keeping us optimistic that Gap can continue expanding operating profit margin in fiscal year 2025,\" Citi analyst Paul Lejuez said in a clien","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ANF":"爱芬奇","GAP":"Gap, Inc","AEO":"美鹰服饰","URBN":"都市服饰","BK4094":"服装零售"},"translate_title":"Gap首席执行官：假期开局“强劲”，监控潜在关税","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GAP":1,"AEO":0.9,"ANF":0.9,"URBN":0.9},"content_text":"Holiday shoppers are falling into the Gap (GAP) early.\n\"Our holiday season is off to a strong start,\" Gap CEO Richard Dickson told Yahoo Finance on Thursday. \"It gives us the confidence to raise our expectations for the year in sales, gross margin, and operating income growth.\"\nDickson's comments follow another quarterly earnings thumping. The relatively new CEO is running his playbook of improved marketing, stylish clothes that fit well, and better inventory management.    \nThird quarter sales did, however, come in light versus estimates at Old Navy and Banana Republic. A warmer-than-expected winter has been pressuring sales of sweaters and jackets industrywide.\nGap's results and guidance raise are likely to support the turnaround narrative that has lifted the stock about 16% over the past year. \n\"We believe management is doing the right things operationally, keeping us optimistic that Gap can continue expanding operating profit margin in fiscal year 2025,\" Citi analyst Paul Lejuez said in a client note.\n\n\n\n  Richard Dickson at the 2024 CFDA Fashion Awards held at the American Museum of Natural History on Oct. 28, 2024, in New York. (John Nacion/Variety via Getty Images)\n \n\n  John Nacion via Getty Images\n \n\nOf the 15 sell-side analysts that cover Gap, the average price target is $25.59, according to Yahoo Finance data — 22% upside from current levels.\nOne wild card in the Gap investment thesis is the potential new tariffs from the incoming Trump administration. \nDickson noted only about 10% of Gap's products are sourced from China, but it remains a key issue that he's watching, as it could broadly impact the apparel industry. \n\"Look, if [tariffs do] happen, it would create macroeconomic implications, and it would likely be in the form of additional inflationary pressures on consumers. But it's also important to note we have increased flexibility to continue to evolve our supply chain, and we'll ensure we're in the strongest possible position as trends unfold,\" Dickson explained.\nEarnings analysis\n\nNet sales: +2% year over year to $3.8 billion vs. $3.81 billion estimate (guidance: up slightly)\nComparable sales:\n\nOld Navy: unchanged compared to +1% last year, vs. +1.3% estimate\nBanana Republic: -1% compared to -8% last year, vs. -0.4% estimate\nGap: +3% compared to -1% last year, vs. +2.4% estimate\nAthleta: +5% compared to -19% last year, vs. +3.7% estimate\n \nGross margin: 42.7% compared to 41.3% last year, vs. 42.1% estimate\nDiluted EPS: $0.72 vs. $0.58 estimate\n\nWhat else caught our attention\n\nNo pre-holiday inventory bulge: Inventory levels fell 2% from the prior year.\nTrend watch: Gap's comparable sales have increased for four straight quarters.\nLots of cash: The company's total cash position surged 64% year over year to $2.2 billion.\nGuidance:\n\n2024 net sales: Up 1.5% to 2% (previous guidance: up slightly)\n2024 gross margin: About 40.5% (previous: about 40.3%)\n \n\nBrian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.\nClick here for all of the latest retail stock news and events to better inform your investing strategy","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485642325"}