Is retailer Gap (GPS) back from the dead? At least two analysts think so following the company’s solid third quarter results and guidance after the close. This morning, Gap’s stock is trading 10% higher.
Gap reported third quarter EPS of $0.35, 1 cent better than the analyst estimate of $0.34. Revenue for the quarter was $3.6 billion, versus the consensus of $3.57 billion. The company also reaffirmed their FY08 EPS guidance of $1.30 to $1.35. Even a slight beat and a reaffirmation of guidance is a huge positive in this brutal retail environment.