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GPS

Gap

$24.65

-0.79 (-3.11%)

06:43
11/21/18
11/21
06:43
11/21/18
06:43

Gap reviews whether to close hundreds of weaker locations, WSJ reports

Gap is evaluating whether to shutter hundreds of underperforming stores at its namesake brand after the unit reported a 7% drop in quarterly comparable sales, the Wall Street Journal reports, citing comments made by CEO Art Peck. The brand, which has roughly 800 locations in North America, is reviewing some flagship stores as well as "hundreds of other stores" based on profits, traffic trends and other factors. "We have had a lot of stores that are in the bottom half of the fleet that have continued to deteriorate over time, and it's my strong belief that we've kicked the can down the road on this and offered a deteriorating customer experience and it does have a negative effect on the health of the brand," Peck said. Reference Link

  • 03

    Mar

GPS Gap
$24.65

-0.79 (-3.11%)

10/25/18
GSCO
10/25/18
INITIATION
Target $28
GSCO
Neutral
Gap initiated with a Neutral at Goldman Sachs
Price target $28.
10/25/18
GSCO
10/25/18
INITIATION
Target $28
GSCO
Neutral
Gap initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis initiated Gap with a Neutral rating and a price target of $28. The analyst is positive on the company's shift to "higher growth, higher margin value formats", the expansion of its omnichannel sales, and its "stronger consumer environment", but also sees a "key risk" to its "value based portfolio" coming from the "intensifying private label and online apparel competition".
10/26/18
10/26/18
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. L Brands (LB) initiated with a Buy at Goldman Sachs while Gap (GPS) was initiated with a Neutral. 2. Iridex (IRIX) initiated with a Buy at Stifel. 3. Xilinx (XLNX) assumed with a Market Perform at William Blair. 4. Novan (NOVN) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/01/18
RBCM
11/01/18
NO CHANGE
Target $30
RBCM
Sector Perform
Gap price target lowered to $30 from $34 at RBC Capital
RBC Capital analyst Brian Tunick lowered his price target on The Gap to $30 and kept his Sector Perform rating, saying his promotional analysis suggests that the company's brand has suffered a "step back" in Q3. The analyst notes that the stock is already pricing in some of the investor skepticism about getting all 3 of its segment into positive comps while also lowering his FY18 EPS view by 5c to $2.55 and FY19 EPS by 25c to $2.55.

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TRN

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TIGR

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SND

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LYFT

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DERM

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NVRO

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TORC

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NVRO

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PFE

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GOOG

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GOOG

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SMAR

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LGIH

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SAGE

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QTRX

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AIHS

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INVH

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PULM

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SIEN

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INVH

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FDX

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LYFT

Lyft

$0.00

(0.00%)

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