However, as we wait for the December sales results for Gap, we believe the strong performance year to date for Gap coupled with strong consumer spending trends during the holiday season can provide an upside to our forecasts.
However, word that cost increases at Gap (GPS) would impact earnings in the second half of the year put a dismal stamp on the earnings season for the retailers.
About 35 are planned for the year ending in March 2013, up from 30 in the latest season, which ended earlier this month, says Robin Pendoley, co-director of USA GapYear Fairs, a nonprofit organization.