Gap, Inc. (GPS) reported Q2 EPS of $0.08, $0.13 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $3.86 billion versus the consensus estimate of $3.82 billion.
GUIDANCE:
Coming off of peak inflation and the higher gas prices particularly impacting the lower-income consumer in June, the company has seen an improvement in sales trends in July and into August consistent with many other retailers. While the company is making progress balancing its assortments, it remains cautiously optimistic in light of the consumer environment as it relates to its revenue in the second half of fiscal 2022.