Gap inc. net sales of $16.7 billion in fiscal 2021 up 21%. New York News. New York Business portal

4 March 2022

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Gap inc. net sales of $16.7 billion in fiscal 2021 up 21%

The clothing retailer's shares and its report

Gap (NYSE: GPS), one of the largest US clothing retailers, has released its fourth quarter and fiscal year 2021 results report.

The stock opened at US$14.48 in yesterday's trading and closed at US$14.25 (-2.20%) at 04:03PM ET.

Gap inc. shares have added 0.07% over the past five days. However, the stock had a low of $13.74 and a high of $14.76.

Also, the total volume of shares bought and sold so far since the beginning of yesterday's trading day (Volume) is 14,651,397 and the average daily trading volume in units (Avg. Volume) is 9,525,642.

Company report

In its report, Gap inc. (NYSE: GPS) reported Q4 FY2021 net sales of $4.5 billion, up 2% y-o-y and down 3% y-o-y. Comparable sales were up 3% year-on-year and up 3% year-on-year in 2019.

Also, the company said net sales in fiscal 2021 of $16.7 billion were up 21% from last year and 2% from fiscal 2019. Comparable sales were up 6% year-on-year and up 8% year-on-year in FY 2019.

In fiscal 2021, diluted earnings per share were $0.67 and adjusted diluted earnings per share were $1.44.

The company also returned more than $400 million to shareholders in fiscal 2021 through its dividend programme and share buyback plan.

Forecasts from the company

Gap forecasts its diluted earnings per share to be in the range of $1.95 to $2.15 in fiscal 2022. Excluding the net profit expected from international initiatives, the company expects adjusted diluted earnings per share to be in the range of $1.85 to $2.05.

Gap inc. was founded in 1969. Sonia Syngal is Chief Executive Officer and Mark Breitbard is President and CEO, Gap Brand. Also, Sandra Stangl is President and CEO of the Banana Republic.

Persons³ and Companies² in the news

STANGL Sandra

President and Chief Executive Officer of the Banana Republic

1 place

BREITBARD Mark

President and Chief Executive Officer of Gap Inc.

2 place

SYNGAL Sonia

President and CEO of GAP, a subsidiary within the Gap Inc. portfolio

3 place

Banana Republic

1 place

Gap Inc.

2 place

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