Gap Inc. Stock Falls on Mixed Q4 Earnings Report

GAP Stock

GAP stock (GPS:NYE) fell 8.2% after reporting mixed performance for the fourth quarter of Fiscal Year 2022. The reduction in quarterly performance was mostly attributable to a decrease in discretionary consumer expenditure as a result of high inflation.

While the company posted an adjusted loss of $0.40 per share, which was less than anticipated, revenue decreased 6% year-over-year to $4.24 billion, missing forecasts. In addition, Gap stock witnessed a decline in certain categories, but the women’s category remained robust.

Gap has announced intentions to streamline management to increase efficiency and speed up decision-making, which is anticipated to save the corporation $300 million per year. Comparing Fiscal Year 2022 to Fiscal Year 2023, the business anticipates a mid-single-digit loss in net sales for the first quarter of Fiscal Year 2023 and a low-to-mid-single-digit decline in net sales for Fiscal Year 2023.

Despite having an average price target of $12.15, which represents an upside potential of 8.8% from the current price, Gap stock has been assigned a consensus rating of “Underperform”. GAP stock has gained about 2.2% so far this year.

GPS Ratings by Stock Target Advisor

Top Trending Stocks

AVG Analyst Rating STA Analysis
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Very Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Bullish
StockTargetAdvisor
Hold
StockTargetAdvisor
Slightly Bearish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Buy
StockTargetAdvisor
Very Bullish
StockTargetAdvisor
Buy
StockTargetAdvisor
Slightly Bullish
Ad
Ad

Leave a Reply

Your email address will not be published. Required fields are marked *