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GPS

Gap

$19.17

-0.18 (-0.93%)

17:22
09/12/19
09/12
17:22
09/12/19
17:22

Old Navy aims to nearly double North America store count

In presentation slides, Gap's Old Navy brand said it intends to almost double its store fleet in North America to roughly 2000 locations as the retailer prepares for a split from its parent company next year. Old Navy plans to open 860 stores in North America, adding to its roughly 1,140 stores recorded at the end of 2018, with the lion's share of the new stores in small markets. The plan would involve opening about 75 stores annually, focused on off-mall locations with an eye on underserved small markets, resulting in lower unit volumes, the retailer said.

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    Sep

  • 21

    Nov

GPS Gap
$19.17

-0.18 (-0.93%)

06/11/19
MKMP
06/11/19
NO CHANGE
Target $18
MKMP
Neutral
Gap price target lowered to $18 from $33 at MKM Partners
MKM Partners analyst Roxanne Meyer set her "fair value" estimate for Gap at $18, down from her prior price target of $33, and kept her Neutral rating after its Q1 earnings miss, also lowering her FY19 and FY20 EPS outlook by 38c and 41c to $2.12 and $2.20 respectively. The analyst says the quarter's negative comps at Gap and Old Navy brands "deepen the skepticism" about the company's Old Navy breakup decision, adding that the gross margin and inventory trends also bode poorly for Gap's Q2 performance. Meyer expects the management to offer some more clarity about the rationale for the break-up in the fall, but expects investors' worries about "dis-synergies" of the split to remain an overhang on Gap shares.
08/23/19
WELS
08/23/19
NO CHANGE
Target $18
WELS
Market Perform
Gap price target lowered to $18 from $25 at Wells Fargo
Wells Fargo analyst Ike Boruchow lowered his price target on Gap to $18 from $25 while maintaining a Market Perform rating following the company's quarterly results, saying the magnitude of comp decline at the all-important Old Navy business was a "bit surprising." In a research note to investors, the analyst says he remains concerned about Old Navy's ability to right their ship in time ahead of holiday, especially considering Gap is planning a potential return to comp growth in the fourth quarter. Boruchow says the Q2 results did not alter the Gap story, and he would remain sidelined until the company can gain some visibility into its trajectory.
08/26/19
MKMP
08/26/19
NO CHANGE
Target $18
MKMP
Neutral
Visibility on The Gap remains low, says MKM Partners
MKM Partners analyst Roxanne Meyer kept her Neutral rating and $18 price target on The Gap after its Q2 results, saying that while the company beat on earnings, its visibility toward Q3 remains low and the 5% decline in Old Navy comp was "disappointing". The analyst notes that the upside in the quarter came from better than expected gross margins at The Gap business and a favorable SG&A factor driven by the shift in expense timing. Meyer also states that the company's affirmed FY19 expectations imply a weaker back half of 2019 , adding that she has slightly lowered her Q3 gross margin projections to reflect the slower start in the quarter and the impact of tariffs.
09/12/19
EVER
09/12/19
NO CHANGE
Target $21
EVER
In Line
Gap's Old Navy could be worth $28 per share, says Evercore ISI
After Gap provided separate financials for Gap Inc. and Old Navy for the first time, Evercore ISI analyst Westcott Rochette said the market already knew Old Navy has been much better than Gap Inc. in terms of both sales and earnings consistency, but he was surprised that the magnitude of the gap "is much wider than expected." He thinks the higher spread between the two will lead the market to give a higher valuation to the sum-of-the-parts entity, adding that his "back of the envelope" math yields an approximate share price of $28 per share for Old Navy using a "relatively conservative" PE multiple of 12 times 2018 earnings. Rochette has an In Line rating and $21 price target on Gap shares.

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Roche

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AUPH

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RHHBY

Roche

$0.00

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06:41
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Roche reports nine months group sales CHF 46.07B vs. CHF 42.08B last year »

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AUPH

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SCON

Superconductor Technologies

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EVFM

Evofem

$5.01

-0.065 (-1.28%)

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ASML

ASML

$267.56

5.73 (2.19%)

06:37
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ASML

ASML

$267.56

5.73 (2.19%)

06:37
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ASML sees Q4 net sales around EUR3.9B »

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FSCT

ForeScout

$26.13

0.56 (2.19%)

06:36
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ASML

ASML

$267.56

5.73 (2.19%)

06:36
10/16/19
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06:36
Earnings
ASML reports Q3 EPS EUR1.49 vs. EUR1.13 in Q2 »

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FHN

First Horizon

$16.13

0.22 (1.38%)

06:36
10/16/19
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Earnings
First Horizon reports Q3 adjusted EPS 43c, consensus 42c »

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BK

BNY Mellon

$44.37

0.47 (1.07%)

06:33
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06:33
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06:33
Earnings
BNY Mellon reports Q3 EPS $1.07, consensus 99c »

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  • 16

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BLDR

Builders FirstSource

$21.54

0.96 (4.66%)

06:33
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Upgrade
Builders FirstSource rating change  »

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NEPT

Neptune Wellness

$3.46

0.135 (4.06%)

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  • 12

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BMCH

BMC Stock Holdings

$26.15

0.94 (3.73%)

06:33
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10/16
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06:33
Upgrade
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ALXN

Alexion

$104.85

3.455 (3.41%)

, ACHN

Achillion

$3.66

0.115 (3.25%)

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ALXN

Alexion

$104.85

3.455 (3.41%)

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Achillion

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0.115 (3.25%)

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AVGO

Broadcom

$290.46

8.81 (3.13%)

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KNX

Knight-Swift

$35.68

-0.365 (-1.01%)

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ALXN

Alexion

$104.85

3.455 (3.41%)

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Achillion

$3.66

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ALXN

Alexion

$104.85

3.455 (3.41%)

ACHN

Achillion

$3.66

0.115 (3.25%)

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  • 19

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AMZN

Amazon.com

$1,768.70

31.65 (1.82%)

, ORCL

Oracle

$56.35

-0.1 (-0.18%)

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AMZN

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$1,768.70

31.65 (1.82%)

ORCL

Oracle

$56.35

-0.1 (-0.18%)

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BTI

British American Tobacco

$34.60

0.245 (0.71%)

, MO

Altria Group

$43.43

0.72 (1.69%)

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Periodicals
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British American Tobacco

$34.60

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MO

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$43.43

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IMBBY

Imperial Brands

$0.00

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PM

Philip Morris

$78.32

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  • 17

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RYAM

Rayonier Advanced Materials

$4.70

0.21 (4.68%)

06:27
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CP

Canadian Pacific

$218.42

3.27 (1.52%)

06:26
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Downgrade
Canadian Pacific rating change  »

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  • 23

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RYTM

Rhythm Pharmaceuticals

$20.90

0.52 (2.55%)

06:24
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Syndicate
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  • 16

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PRQR

ProQR Therapeutics

$6.21

-0.09 (-1.43%)

06:23
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Syndicate
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