Wall St Engine
$GAP Q1 Earnings Highlights
🔹 Revenue: $3.5B (Est. $3.42B) 🟢 +2% YoY
🔹 EPS: $0.51 (Est. $0.45) 🟢
🔹 Comparable Sales: +2% (Est. +1.6%) 🟢
Tariff Impact:
🔸 Minimal in Q2.
🔸 FY gross impact of $250M–$300M if tariffs stay; after mitigation, net ~$100M–$150M weighted to H2.
FY Outlook
🔹 Revenue: +1% to +2% (vs. $15.1B in FY24)
🔹 Operating Income: +8% to +10% (vs. $1.1B in FY24)
🔹 Net Interest Income: ~$15M
🔹 Effective Tax Rate: ~26%
🔹 CapEx: ~$600M
🔹 Net Store Closures: ~35
Q2 Outlook
🔹 Revenue: Flat YoY
🔹 Gross Margin: Similar to Q1 (41.8%)
🔹 Operating Expense (% of Sales): Slight leverage YoY
Brand-Level Comparable Sales (Q1 FY25)
🔹 Old Navy: +3% (9th straight quarter of share gains)
🔹 Gap: +5% (6th straight positive comps, 8th quarter share gain)
🔹 Banana Republic: Flat (Net sales -3%)
🔹 Athleta: -8% (Net sales -6%)
Other Q1 Metrics:
🔹 Gross Margin: 41.8% (+60 bps YoY)=
🔹 Online Sales: +6% YoY; 39% of total sales
🔹 Store Sales: Flat YoY; 2,496 company-operated out of ~3,500 total stores=
🔹 Inventory: $2.1B (+7% YoY)
🔹 Cash & Short-Term Investments: $2.2B (+28% YoY)
🔹 Free Cash Flow: -$223M
🔹 Shareholder Return: $131M via dividends and buybacks
🔹 Shares Repurchased: 4M for $70M
🔹 Dividend: $0.165/share approved for Q2
CEO Commentary
🔸 "Exceeded expectations. Positive comps for the 5th straight quarter. Brand reinvigoration is working. Staying focused on controllables for long-term growth." – Richard Dickson, CEO
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$GAP Q1 Earnings Highlights
🔹 Revenue: $3.5B (Est. $3.42B) 🟢 +2% YoY
🔹 EPS: $0.51 (Est. $0.45) 🟢
🔹 Comparable Sales: +2% (Est. +1.6%) 🟢
Tariff Impact:
🔸 Minimal in Q2.
🔸 FY gross impact of $250M–$300M if tariffs stay; after mitigation, net ~$100M–$150M weighted to H2.
FY Outlook
🔹 Revenue: +1% to +2% (vs. $15.1B in FY24)
🔹 Operating Income: +8% to +10% (vs. $1.1B in FY24)
🔹 Net Interest Income: ~$15M
🔹 Effective Tax Rate: ~26%
🔹 CapEx: ~$600M
🔹 Net Store Closures: ~35
Q2 Outlook
🔹 Revenue: Flat YoY
🔹 Gross Margin: Similar to Q1 (41.8%)
🔹 Operating Expense (% of Sales): Slight leverage YoY
Brand-Level Comparable Sales (Q1 FY25)
🔹 Old Navy: +3% (9th straight quarter of share gains)
🔹 Gap: +5% (6th straight positive comps, 8th quarter share gain)
🔹 Banana Republic: Flat (Net sales -3%)
🔹 Athleta: -8% (Net sales -6%)
Other Q1 Metrics:
🔹 Gross Margin: 41.8% (+60 bps YoY)=
🔹 Online Sales: +6% YoY; 39% of total sales
🔹 Store Sales: Flat YoY; 2,496 company-operated out of ~3,500 total stores=
🔹 Inventory: $2.1B (+7% YoY)
🔹 Cash & Short-Term Investments: $2.2B (+28% YoY)
🔹 Free Cash Flow: -$223M
🔹 Shareholder Return: $131M via dividends and buybacks
🔹 Shares Repurchased: 4M for $70M
🔹 Dividend: $0.165/share approved for Q2
CEO Commentary
🔸 "Exceeded expectations. Positive comps for the 5th straight quarter. Brand reinvigoration is working. Staying focused on controllables for long-term growth." – Richard Dickson, CEO
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Wall St Engine
$COST | Costco Q3 Earnings Highlights
🔹 EPS: $4.28 (Est. $4.25) 🟢
🔹 Revenue: $61.96B (Est. $63.13B) 🔴
🔹 Total Co.: +5.7% (Est. +5.58%) 🟢 | ex-gas & FX: +8.0% (Est. +6.99%) 🟢
🔹 Net Income: $1.90B (vs. $1.68B YoY)
🔹 Gross Margin: 11.3% (flat YoY)
🔹 Membership Fee Revenue: $1.24B (vs. $1.12B YoY)
🔹 Total Revenue (incl. Membership): $63.21B (+8.0% YoY)
Comparable Sales (YoY):
🔹 U.S.: +6.6% | ex-gas & FX: +7.9%
🔹 Canada: +2.9% | ex-gas & FX: +7.8%
🔹 Other Int'l: +3.2% | ex-gas & FX: +8.5%
🔹 E-commerce: +14.8% | ex-gas & FX: +15.7%
Operations:
🔹 Warehouse count: 905 globally
🔹 U.S. & Puerto Rico: 624 | Canada: 109 | China: 7
🔹 E-commerce operating in 8 countries including U.S., Canada, UK, and Japan
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$COST | Costco Q3 Earnings Highlights
🔹 EPS: $4.28 (Est. $4.25) 🟢
🔹 Revenue: $61.96B (Est. $63.13B) 🔴
🔹 Total Co.: +5.7% (Est. +5.58%) 🟢 | ex-gas & FX: +8.0% (Est. +6.99%) 🟢
🔹 Net Income: $1.90B (vs. $1.68B YoY)
🔹 Gross Margin: 11.3% (flat YoY)
🔹 Membership Fee Revenue: $1.24B (vs. $1.12B YoY)
🔹 Total Revenue (incl. Membership): $63.21B (+8.0% YoY)
Comparable Sales (YoY):
🔹 U.S.: +6.6% | ex-gas & FX: +7.9%
🔹 Canada: +2.9% | ex-gas & FX: +7.8%
🔹 Other Int'l: +3.2% | ex-gas & FX: +8.5%
🔹 E-commerce: +14.8% | ex-gas & FX: +15.7%
Operations:
🔹 Warehouse count: 905 globally
🔹 U.S. & Puerto Rico: 624 | Canada: 109 | China: 7
🔹 E-commerce operating in 8 countries including U.S., Canada, UK, and Japan
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App Economy Insights
$COST Costco Q3 FY25.
• Revenue +9% Y/Y to $63.2B ($0.1B beat).
• EPS $4.28 ($0.05 beat).
• 905 warehouses (+27 Y/Y, +8 Q/Q).
Comparable sales Y/Y (adjusted):
• US +7.9%.
• Company +8.0%.
• E-commerce +15.7%. https://t.co/uAv1HG4xAa
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$COST Costco Q3 FY25.
• Revenue +9% Y/Y to $63.2B ($0.1B beat).
• EPS $4.28 ($0.05 beat).
• 905 warehouses (+27 Y/Y, +8 Q/Q).
Comparable sales Y/Y (adjusted):
• US +7.9%.
• Company +8.0%.
• E-commerce +15.7%. https://t.co/uAv1HG4xAa
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Wall St Engine
The DOJ is asking a Texas judge to dismiss the criminal fraud case against Boeing $BA tied to the 737 MAX crashes. The move would let Boeing avoid prosecution in exchange for over $1.1B in fines and reforms. Families of crash victims are opposing the deal. Trial was set for June 23.
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The DOJ is asking a Texas judge to dismiss the criminal fraud case against Boeing $BA tied to the 737 MAX crashes. The move would let Boeing avoid prosecution in exchange for over $1.1B in fines and reforms. Families of crash victims are opposing the deal. Trial was set for June 23.
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Wall St Engine
Barclays has agreed to purchase 100,000 Microsoft's Copilot licenses, as shared in a company town hall Thursday. That’s tens of millions in annual revenue at list price for $MSFT. https://t.co/q7HMWLUAv1
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Barclays has agreed to purchase 100,000 Microsoft's Copilot licenses, as shared in a company town hall Thursday. That’s tens of millions in annual revenue at list price for $MSFT. https://t.co/q7HMWLUAv1
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Wall St Engine
Ecuador and Palantir $PLTR have partnered to support the country’s digital transformation, starting with customs enforcement. The AI tools will help detect high-risk operations, fight smuggling, and boost legal trade. https://t.co/404j0POSI2
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Ecuador and Palantir $PLTR have partnered to support the country’s digital transformation, starting with customs enforcement. The AI tools will help detect high-risk operations, fight smuggling, and boost legal trade. https://t.co/404j0POSI2
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App Economy Insights
Zillow co-founder Spencer Rascoff’s new startup, Pacaso (they’re sponsoring us), is disrupting the $1.3T vacation home market.
Backed by Softbank
$110M+ in gross profits
Nasdaq ticker $PCSO reserved
Invest for just $2.80/share by midnight PT.👇https://t.co/83auTLIETd
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Zillow co-founder Spencer Rascoff’s new startup, Pacaso (they’re sponsoring us), is disrupting the $1.3T vacation home market.
Backed by Softbank
$110M+ in gross profits
Nasdaq ticker $PCSO reserved
Invest for just $2.80/share by midnight PT.👇https://t.co/83auTLIETd
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Capital Employed
49 ‘fresh-off-the-press’ stock pitches we’ve enjoyed reading in the past two weeks 👇
https://t.co/R8JChwVNsJ https://t.co/4tSCje8oq1
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49 ‘fresh-off-the-press’ stock pitches we’ve enjoyed reading in the past two weeks 👇
https://t.co/R8JChwVNsJ https://t.co/4tSCje8oq1
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