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GPS

Gap

$25.05

0.08 (0.32%)

16:19
12/01/16
12/01
16:19
12/01/16
16:19

Gap reports November comparable sales down 1%

Gap Inc. reported that net sales for the four-week period ended November 26 were $1.53B compared with $1.57B for the four-week period in 2015. "While November traffic trends remained challenging, we are encouraged that performance improved in the back half of the month and we remain focused on executing our holiday plans," said CFO Sabrina Simmons. Gap Inc.'s comparable sales for November were down 1% versus an 8% decrease last year. The company estimated that the fire, which occurred in a building on its Fishkill distribution center campus, negatively impacted Gap Inc.'s November comparable sales by approximately 3 percentage points. Additionally, the company noted that the majority of the fire-related negative impact to comparable sales during 4Q16 occurred in November. Comparable sales by global brand for November were as follows: Gap Global: negative 3%, including an estimated negative impact from the Fishkill fire of approximately 4 percentage points, versus negative 4% last year. Banana Republic Global: positive 5%, including an estimated negative impact from the Fishkill fire of approximately 3 percentage points, versus negative 19% last year. Old Navy Global: negative 2%, including an estimated negative impact from the Fishkill fire of approximately 1 percentage point, versus negative 9% last year.

GPS Gap
$25.05

0.08 (0.32%)

11/18/16
11/18/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underperform from Market Perform at BMO Capital with analyst James Fotheringham saying that the shares don't reflect the impact of its "recent cross-selling issues." 2. Gap (GPS) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez citing expectations that the company's brands will continue to struggle. 3. Citi (C) downgraded to Neutral from Outperform at Macquarie with analyst David Konrad saying investors should shift exposure to names that have more leverage to capital markets and increased economic activity and away from global banks. 4. Torchmark (TMK) downgraded to Underperform from Neutral at BofA/Merrill with analyst Seth Weiss citing relative valuation. 5. First Solar (FSLR) downgraded to Sell from Neutral at UBS with analyst Julien Dumoulin-Smith saying the recently issued 2017 guidance "is not the trough in expectations." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/16
PIPR
11/28/16
UPGRADE
Target $23
PIPR
Neutral
Gap upgraded to Neutral from Underweight at Piper Jaffray
Piper Jaffray analyst Neely Tamminga upgraded Gap to Neutral saying the shares, are dropping 17% since the earnings report, are appropriately reflecting concerns on fundamentals. The analyst keeps a $23 price target for the stock.
11/28/16
PIPR
11/28/16
UPGRADE
Target $67
PIPR
Neutral
L Brands upgraded to Neutral from Underweight at Piper Jaffray
Piper Jaffray analyst Neely Tamminga upgraded L Brands(LB) to Neutral saying the stock at current levels is already "indicating fundamental disappointment in the near-term." The analyst keeps a $67 price target for the shares. Tamminga this morning also upgraded Gap (GPS) to Neutral.
11/28/16
MSCO
11/28/16
NO CHANGE
MSCO
Softline Black Friday weekend sales mixed versus last year, says Morgan Stanley
Morgan Stanley said overall Softline Black Friday weekend sales were mixed verus last year saying L Brands (LB), lululemon (LULU), and Hollister were weekend winners and Gap (GPS), Broadridge (BR), Michael Kors (KORS), and Anthro were laggards.

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TGTX

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SNCR

Synchronoss

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TEVA

Teva

$37.04

0.51 (1.40%)

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NVCN

Neovasc

$1.42

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GDS

GDS Holdings

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KKR

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$15.67

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AZO

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GS

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CBB

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RCII

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RES

RPC, Inc.

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PTEN

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CLB

Core Laboratories

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