Gap, Inc. (the) · NYSE:GAP
Gap, Inc. (the) — Q2 2019 Earnings Presentation
6 slides from Gap, Inc. (the)'s earnings presentation, Aug 22, 2019
Slide 1: Gap Inc. Fiscal 2019 Second Quarter Earnings Results
Exhibit 99.3 GAP INC. FISCAL 2019 SECOND QUARTER EARNINGS RESULTS ART PECK TERI LIST-STOLL Gap Inc.
Slide 2: Disclosure Statement
DISCLOSURE STATEMENT FORWARD LOOKING STATEMENTS This conference call and webcast contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements.
Slide 3: Q2 Reported P&L Summary
Q2 REPORTED P&L SUMMARY IN MILLIONS Q2 2019 Q2 2018 Q2 2019 vs. Q2 2018 NET SALES $4,005 $4,085 (2%) COMP (4%) 2% GROSS PROFIT $1,556 $1,627 (4%) % 38.9% 39.8% (90bps) MERCHANDISE MARGIN B/(W) LY (70bps) (30bps) ROD % OF SALES B/(W) LY (20bps) +120bps OPERATING EXPENSES $1,274 $1,229 +4% % 31.8% 30.
Slide 4: Q2 Adjusted P&L Summary
Q2 ADJUSTED P&L SUMMARY IN MILLIONS a2 2019 Q2 2018 Q2 2019 vs. Q2 2018 NET SALES $4,005 $4,085 (2%) comp (4%) 2% GROSS PROFIT $1,556 $1,627 (4%) % 38.9% 39.8% (90bps) MERCHANDISE MARGIN B/(W) LY (70bps) (30bps) ROD % OF SALES B/(W) LY (20bps) +120bps ADJUSTED OPERATING EXPENSES $1,222 $1,229 (1%) %
Slide 5: Fiscal 2019 Outlook
FISCAL 2019 OUTLOOK AS OF AUGUST 22, 2019 Reported Diluted Earnings per Share Adjusted Diluted Earnings per Share Comp Sales Net Sales Net Company-Operated Store Closures Capital Expenditures Effective Tax Rate Adjusted Effective Tax Rate Share Repurchases $1.88 - $2.08 $2.05 - $2.15 Down low single
Slide 6: Brand logos: Banana Republic, Athleta, Old Navy
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