JWN

Retailer Gap (click ticker for report: ) shrugged off sluggish international demand to post another strong quarter Thursday. For its second quarter, the retailer grew sales 6% from the same period a year ago, to $3.6 billion, north of consensus expectations. Earnings per share increased 40% to $0.49, which was also better than consensus estimates. The firm hiked its 2012 bottom-line earnings per share guidance range to $1.95-$2.00, a meaningful increase from its previous range of $1.78-$1.83. Other than its international segment, Gap is firing on all cylinders. Systemwide same-store sales grew 4% year-over-year, despite a 5% decline in the international division. Though Gap North America and Banana Republic lapped negative comparisons, both segments grew 7%. Management noted trends regarding … Read more