GAP is registering significant net positive volume this past few weeks -- in anticipation of the company's turnaround story in terms of bottomline which it did after the company posted a surprise profit due to business re-organization after last Month's earnings result.
The stock is sitting at a strong solid support at 8-9 area -- a 1.0 FIB level area where buyers converge. Expect price to bounce from this range.
Weekly histogram has created higher lows conveying incoming reversal to the upside.
Spotted at 8.5
TAYOR.
Safeguard capital always
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FUNDAMENTAL NEWS: Reference Barrons.
Gap’s Surprise Profit Gives Stock a Boost
By Sabrina EscobarFollow
May 25, 2023 5:09 pm ET
Gap’s same-store sales fell by 3%.
Gap stock surged on Thursday after the company posted a surprise profit.
The apparel retailer posted adjusted earnings of one cent a share in the quarter, better than consensus estimates for a loss of 16 cents a share, according to FactSet. While revenue of $3.28 billion declined 6% compared with the previous quarter, it was in line with the company’s and the Street’s projections.
Same-store sales fell by 3%, more than forecasts for a 2.4% decline.
For the second quarter, Gap (ticker: GPS) is expecting net sales could decrease in the mid- to high-single digit range from the year-ago quarter’s $3.86 billion. Current estimates have Gap’s second-quarter sales down by roughly 5% year-over-year. For fiscal 2023, net sales could decrease in the low to mid-single digit range.
Despite the decrease in sales, Gap believes margins will grow in both the second quarter and the remainder of fiscal 2023. First-quarter adjusted gross margins increased 5.7 percentage points compared with the previous year.
Gap stock jumped 16% to $8.61 in after-hours trading.
The company is currently reorganizing its business to improve profitability. Earlier this year, it announced it was cutting 1,800 corporate jobs in addition to 500 jobs culled in September.
“While the macro and consumer environment remain uncertain, Q1 underscores our ability to deliver improvements to the business including share gains at Old Navy and Gap Brand, adjusted operating margin expansion, reduction in inventory, and strength in our balance sheet,” said interim CEO Bob Martin in a statement.
The stock is sitting at a strong solid support at 8-9 area -- a 1.0 FIB level area where buyers converge. Expect price to bounce from this range.
Weekly histogram has created higher lows conveying incoming reversal to the upside.
Spotted at 8.5
TAYOR.
Safeguard capital always
----------------------------------
FUNDAMENTAL NEWS: Reference Barrons.
Gap’s Surprise Profit Gives Stock a Boost
By Sabrina EscobarFollow
May 25, 2023 5:09 pm ET
Gap’s same-store sales fell by 3%.
Gap stock surged on Thursday after the company posted a surprise profit.
The apparel retailer posted adjusted earnings of one cent a share in the quarter, better than consensus estimates for a loss of 16 cents a share, according to FactSet. While revenue of $3.28 billion declined 6% compared with the previous quarter, it was in line with the company’s and the Street’s projections.
Same-store sales fell by 3%, more than forecasts for a 2.4% decline.
For the second quarter, Gap (ticker: GPS) is expecting net sales could decrease in the mid- to high-single digit range from the year-ago quarter’s $3.86 billion. Current estimates have Gap’s second-quarter sales down by roughly 5% year-over-year. For fiscal 2023, net sales could decrease in the low to mid-single digit range.
Despite the decrease in sales, Gap believes margins will grow in both the second quarter and the remainder of fiscal 2023. First-quarter adjusted gross margins increased 5.7 percentage points compared with the previous year.
Gap stock jumped 16% to $8.61 in after-hours trading.
The company is currently reorganizing its business to improve profitability. Earlier this year, it announced it was cutting 1,800 corporate jobs in addition to 500 jobs culled in September.
“While the macro and consumer environment remain uncertain, Q1 underscores our ability to deliver improvements to the business including share gains at Old Navy and Gap Brand, adjusted operating margin expansion, reduction in inventory, and strength in our balance sheet,” said interim CEO Bob Martin in a statement.
Trade active:
This is ascending quite nicely.
Trade active:
I haven't updated this for a while but seeing how much it grew is amazing. :)
Congrats holders!
Congrats holders!
Trade active:
More than 250% rise in 6 months, not bad.