The Gap Inc. (GPS) reports Q3 revenue $4.1B, consensus $4.B.
Due to the 53rd week in fiscal 2017, comparable sales for the third quarter of fiscal year 2018 are compared with the 13-week period ended November 4, 2017. On this basis, the company's third quarter comparable sales were flat compared with a 3% increase last year.
Comparable sales by global brand for the third quarter were as follows: Old Navy Global: positive 4% versus positive 4% last year; Gap Global: negative 7% versus positive 1% last year; Banana Republic Global: positive 2% versus negative 1% last year.
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