Gap, Inc. – Momentum – Zacks Rank Buy
Source: http://www.zacks.com/commentary/12034/Gap%2C+Inc.+-+Momentum+-+Zacks+Rank+BuyPosted on Tuesday, September 8th, 2009 | In Stocks to Watch
Gap, Inc. (GPS) just posted better than expected August same-store sales as consumers flock to the company’s value oriented Old Navy stores.
Sales at stores open at least a year, a key retail industry performance metric, were only down 3%, ahead of the 7% expected by analysts. Gap noted that sales at its higher-end store Banana Republic were worse than expected, but buoyed by a strong performance from sales at the value oriented Old Navy.
Estimates Continue to Rise
With the company holding its own in a very tough environment, analysts continue to raise their earnings estimate. The current year is up 8 cents in the last month to $1.33 per share. The next-year estimate is up 9 cents in the same time to $1.42, a respectable 7% growth projection.
The Chart
Shares of GPS caught a second wind in early August, building on previous gains from earlier in the year. Take a look at the nice move below.
Last Week’s Momentum Zacks Rank Buy Stocks
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Zacks Investment Research
Last 5 posts by Michael Vodicka
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Autonation Inc., cent;, Credit Suisse Group, Gap, GPS, key retail industry performance metric, Old Navy, Polo Ralph Lauren Corp., Stocks to Watch, USD, Western Digital Corp.;, Zacks Market Commentaries
 About Michael Vodicka (http://www.zacks.com/)
Michael is an Editor at Zacks Investment Research who covers the Momentum and Aggressive Stocks for the Zacks Rank Buys. |
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