Gap, Inc. (the) · NYSE:GAP
Gap, Inc. (the) — Q3 2019 Earnings Presentation
6 slides from Gap, Inc. (the)'s earnings presentation, Nov 21, 2019
Slide 1: Gap Inc. Fiscal 2019 Third Quarter Earnings Results
GAP INC. FISCAL 2019 THIRD QUARTER EARNINGS RESULTS ROBERT J. FISHER INTERIM PRESIDENT & CHIEF EXECUTIVE OFFICER TERI LIST-STOLL EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER
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: Q3 Reported P&L Summary
Q3 REPORTED P&L SUMMARY IN MILLIONS Q3 2019 Q3 2018 Q3 2019 vs. Q3 2018 NET SALES $3,998 $4,089 (2%) COMP (4%) 0% GROSS PROFIT $1,559 $1,623 (4%) % 39.0% 39.7% (70bps) MERCHANDISE MARGIN B/(W) LY (50bps) (90bps) ROD % OF SALES B/(W) LY (20bps) +90bps OPERATING EXPENSES $1,338 $1,260 +6% % 33.5% 30.8
Slide 4: Q3 Adjusted P&L Summary
Q3 ADJUSTED P&L SUMMARY IN MILLIONS Q3 2019 Q3 2018 Q3 2019 vs. Q3 2018 NET SALES $3,998 $4,089 (2%) COMP (4%) 0% ADJUSTED GROSS PROFIT $1,560 (1) $1,623 (4%) % 39.0% (1) 39.7% (70bps) MERCHANDISE MARGIN B/(W) LY (50bps) (90bps) ROD % OF SALES B/(W) LY (20bps) +90bps ADJUSTED OPERATING EXPENSES $1,2
Slide 5: Fiscal 2019 Outlook as of November 21, 2019
FISCAL 2019 OUTLOOK AS OF NOVEMBER 21, 2019 Reported Diluted Earnings per Share $1.38 - $1.47 Adjusted Diluted Earnings per Share $1.70 - $1.75 Comp Sales Down mid-single digits Net Sales Down low-single digits Net Company-Operated Store Closures About 15 Capital Expenditures About $835 million(1) E
Slide 6: Brand logos
BANANA REPUBLIC amp @ATHLETA TERMIX HILL CITYZ ANIE anp JACK