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Gap Posts Earnings Per Share of $0.27
By: Boyd Davis
DALLAS, Feb 27, 2003/ FW/ --- Though fiscal year 2002 was very challenging for The Gap,
the San Francisco-based company posted $0.27 EPS, as it reported its 4Q and year-end results.
For the fourth quarter of Fiscal 2002, Gap showed a 14% increase in sales, reporting
$4.7 billion net sales, compared to $4.1 billion last year.
Comp store sales also increased 8%, versus a decrease of 16% last year.
With a net income of $249 million, or $0.27 per diluted share, for the fourth quarter,
this is marked improvement with the net loss of $34 million or $0.04 loss per diluted share,
in the prior year.
The stellar 4th quarter revenues was able to increase the company's net sales to a total
of $14.5 billion for Fiscal 2002 which ended Feb 1, 2003.
This is a 4% increase compared with last year's net sales of $13.8 billion
The company's year-end comp store sales did not fare very well though, showing a
decrease of 3%, though it is still a marked improved from last year's decrease of 13%.
For the year, the company reported net income of $477
million, or $0.54 per diluted share, compared with a net loss of $8 million, or
$0.01 loss per diluted share, last year.
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