November 16, 2017 / 10:12 PM / a month ago

BRIEF-GAP reports Q3 earnings per share of $0.58

Nov 16 (Reuters) - Gap Inc

* Gap Inc reports third quarter results

* Q3 sales $3.84 billion versus i/b/e/s view $3.76 billion

* Q3 earnings per share $0.58

* Q3 earnings per share view $0.54 -- Thomson Reuters I/B/E/S

* Sees FY adjusted earnings per share $2.08 to $2.12

* Sees FY 2017 earnings per share $2.18 to $2.22

* Gap inc’s comparable sales for Q3 of fiscal year 2017 were up 3 percent versus a 1 percent decrease last year​

* Company now expects comparable sales for fiscal year 2017 to be up low-single-digits​

* Qtrly ‍old navy global comparable sales positive 4 percent versus positive 4 percent last year​

* Qtrly Banana Republic global ‍comparable sales negative 1 percent versus negative 6 percent last year​

* At end of Q3 of fiscal year 2017, total inventory was up 3 percent year over year​

* Company noted inventory increase is “primarily due to the timing of in-transit inventory and the negative impact of foreign exchange​”

* Continues to expect capital spending to be about $625 million for fiscal year 2017

* FY 2018 earnings per share view $2.06 -- Thomson Reuters I/B/E/S​ Source text for Eikon: Further company coverage:

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