Gap (GPS) is gearing up for a comeback, but judging from the company’s fourth quarter earnings report that comeback could still be a few quarters away. Shares were basically flat after the report was released.
Gap posted 44 cents of EPS, 2 cents better than analysts’ expectations. Same-store sales fell 4%, versus a 1% increase a year before.
The company expects 2012 earnings per share in a range of $1.75 to $1.80, versus analysts’ expectations for $1.79.
Gap also announced a new $1 billion buyback and said it plans to increase its annual dividend by 11% to 50 cents per share in 2012.
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