Gap reported Thursday second-quarter revenue that just missed analysts’ forecasts amid weakness in its Athleta brand and the apparel retailer flagged a hit from U.S. tariffs.
Gap Inc (NYSE:GAP) shares fell more than 1% after-hours trade following the report.
Gap announced earnings per share of $0.57 on revenue of $3.725B. Analysts polled by Investing.com anticipated EPS of $0.55 on revenue of $3.73B.
The company’s athleisure brand Athleta, saw comparable sales fall 9%. Old Navy, Gap, and Banana Republic brands reported positive comps for the quarter.
The company also said it had begun to see "some impact from higher tariffs imposed on product imported into the United States," it added.
For Q3, the retailer forecast net sales growth estimate in a range of 1.5% to 2.5%, which included the impact of tariffs.
For fiscal 2025, GAP said it continues to expects net sales growth in range of 1% to 2%.
Source :
https://www.investing.com/news/earnings/gap-q2-revenue-falls-short-amid-weakness-in-athleta-brand-tariff-impact-4215606
