PREVIEW: Gap shares rally heading into results after the bell
** Shares in clothing retailer Gap Inc GAP.N up 3.7% on Thursday, and set to snap five-session losing streak, ahead of Q3 report due after market close
** Wall Street sees adj. EPS of $0.58 vs $0.59 in the year-ago quarter on rev of $3.81 bln vs $3.77 bln a year-ago, according to LSEG
** In last 8 quarters GAP's EPS beat expectations 7 times while rev beat 5 times
** The consensus estimate is for a same-store-sales increase of 2.11% vs 3% rise in Q2 and a decline of 2% in Q3 2023
** In Aug Gap reported Q2 EPS, rev that surpassed Wall Street expectations as shoppers turned to its Old Navy and namesake brands to snap up fashionable clothing
** With move on Thursday, GAP shares up ~2% YTD vs ~10% gain for S&P 400 consumer discretionary index .SPMDCD
** Stock last traded at $21.39 vs median PT of $27 according to LSEG, which shows 20 analyst ratings of 2 'strong buy,' 6 'buy,' 11 'hold' and 1 'sell' recommendation
(Reporting By Sinéad Carew)
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