The Gap, Inc. (GPS - Analyst Report) released its first quarter fiscal 2016 earnings results, posting earnings of 32 cents per share and revenue of $3.44 billion.  

Currently, GPS has a Zacks Rank #5 (Strong Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

The Gap, Inc:                         

1. Matched earnings estimates. The company posted earnings of 32 cents per share, matching our Zacks Consensus Estimate of $0.32.

2. Matched revenue estimates. The company saw revenue figures of $3.44 billion, which was in-line with our estimate of $3.44 billion.

3. The company expects net closures of about 50 company-operated stores in fiscal 2016. This will bring total square footage down about 2% on the year.

4. The company is not reaffirming its earnings per share guidance for fiscal year 2016. The report noted that an estimate of $1.92 per share for its yearly earnings fell within a “reasonable range of potential outcomes,” but also said that the global apparel retail environment would need to improve to meet this target.

5. GPS was up $0.57, or 3.30%, to $17.85 as of 4:30 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at The Gap’s latest earnings performance:

The Gap Inc. (GPS - Analyst Report) Street Actual & Estimate EPS - Last 5 Quarters | FindTheCompany

The Gap, Inc. is a global specialty retailer which operates stores selling casual apparel, personal care and other accessories for men, women and children under the Gap, Banana Republic and Old Navy brands. The company designs virtually all of its products, which in turn are manufactured by independent sources, and sells them under its brand names.