Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Morgan Stanley Narrows Gap


Morgan Stanley downgraded Gap (GPS) to neutral from outperform.

Analyst Robert Ohmes says given the sluggishness in Gap's core basics business, sales momentum won't turn around as quickly as he hoped. He says it's unclear how much of the shortfall is economy-driven, and how much is Gap-merchandise driven. Ohmes says Gap's EPS visibility for rest of year is unclear; and that he's is not sure the clothing retailer will show the same-store sales improvement (vs. easy comparisons agains the prior year period) that he is hoping for. He cut his $1.15 fiscal 2002 (Jan.) EPS estimate to $1.00, and cut his $1.45 fiscal 2003 estimate to $1.25.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus