Hole Inc (NYSE: GPS) reported a third-quarter FY21 gross sales decline of 1.3% year-on-year, to $3.94 billion, lacking the analyst consensus of $4.44 billion. Adjusted EPS of $0.27 missed the analyst consensus of $0.50. The corporate is lowered its FY21 outlook citing ongoing provide chain disruption.
- Web gross sales declined 1% in comparison with Q3 2019, with provide chain disruption driving an estimated 8% damaging affect attributable to constrained stock.
- The corporate mentioned vital provide chain constraints within the quarter impacted each comparable gross sales and web gross sales.
- Comparable gross sales elevated 5% versus Q3 2019. On-line gross sales elevated 48% in comparison with the 2019 quarter.
- The gross revenue rose 2.5% Y/Y to $1.6 billion with a revenue margin of 42.1%, increasing 160 foundation factors.
- The working margin was 3.9%, and working revenue for the quarter fell 12.6% to $153 million.
- The corporate held $1.1 billion in money