Gap, Inc. (the) · NYSE:GAP
Gap, Inc. (the) — Q1 2019 Earnings Presentation
6 slides from Gap, Inc. (the)'s earnings presentation, May 30, 2019
Slide 1: Gap Inc. Fiscal 2019 First Quarter Earnings Results
GAP INC. FISCAL 2019 FIRST QUARTER EARNINGS RESULTS ART PECK PRESIDENT & CHIEF EXECUTIVE OFFICER TERI LIST-STOLL EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER
Slide 2: Disclosure Statement: Forward Looking Statements
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: Q1 Reported P&L Summary
Q1 REPORTED P&L SUMMARY IN MILLIONS Q1 2019 vs. Q1 Q1 2019 Q1 2018 2018 NET SALES $3,706 $3,783 (2%) COMP (4%) 1% GROSS PROFIT $1,344 $1,427 (6%) % 36.3% 37.7% (140bps) MERCHANDISE MARGIN B/(W) (120bps) (140bps) LY (20bps) +120bps ROD % OF SALES B/(W) LY OPERATING EXPENSES $1,028 $1,198 (14%) % 27.7
Slide 4: Q1 Adjusted P&L Summary
Q1 ADJUSTED P&L SUMMARY IN MILLIONS Q1 2019 vs. Q1 Q1 2019 Q1 2018 2018 NET SALES $3,706 $3,783 (2%) COMP (4%) 1% GROSS PROFIT $1,344 $1,427 (6%) % 36.3% 37.7% (140bps) MERCHANDISE MARGIN B/(W) (120bps) (140bps) LY (20bps) +120bps ROD % OF SALES B/(W) LY ADJUSTED OPERATING $1,214 (1) $1,198 +1% EXPE
Slide 5: Fiscal 2019 Outlook as of May 30, 2019
FISCAL 2019 OUTLOOK AS OF MAY 30, 2019 Reported Diluted Earnings per Share $2.04 - $2.14 Adjusted Diluted Earnings per Share $2.05 - $2.15 Comp Sales Down low single digits Net Company-Operated Store Closures About 30 Capital Expenditures About $675 million(1) Effective Tax Rate About 27% Adjusted E
Slide 6: Brand logos
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