Gap (NYSE:GPS) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Gap announced earnings per share of $-2.51 on revenue of $2.11B. Analysts polled by anticipated EPS of $-0.59 on revenue of $2.3B. That with comparison to EPS of $0.24 on revenue of $3.71B in the same period a year before. Gap had reported EPS of $0.58 on revenue of $4.67B in the previous quarter. Analysts are expecting EPS of $-0.12 and revenue of $2.83B in the upcoming quarter.
Gap shares are down 31% from the beginning of the year , still down 38.92% from its 52 week high of $19.86 set on September 12, 2019. They are under-performing the S&P 500 which is down 4.09% year to date.
Gap shares lost 5.61% in after-hours trade following the report.
Gap follows other major Services sector earnings this month
Gap's report follows an earnings beat by Alibaba ADR on May 22, who reported EPS of $9.2 on revenue of $114.31B, compared to forecasts EPS of $6.05 on revenue of $107.45B.
Walmart had beat expectations on May 19 with first quarter EPS of $1.18 on revenue of $134.62B, compared to forecast for EPS of $1.12 on revenue of $132.69B.
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