Clothing and accessories retailer The Gap (NYSE:GPS) will be announcing earnings results tomorrow after the bell. Here's what to look for.

Last quarter Gap reported revenues of $3.77 billion, down 6.7% year on year, beating analyst revenue expectations by 4.4%. It was an incredible quarter for the company, with an impressive beat of analysts' revenue and earnings estimates. These beats were driven by better-than-expected same-store sales performance (analysts forecasted a 7% decline and Gap posted a 2% decline).

Is Gap buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Gap's revenue to decline 0.4% year on year to $4.23 billion, improvement on the 6.2% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.

Looking at Gap's peers in the apparel and footwear retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Urban Outfitters delivered top-line growth of 7.3% year on year, missing analyst estimates by 1% and Ross Stores reported revenues up 15.5% year on year, exceeding estimates by 3.6%. Urban Outfitters traded down 6.3% on the results, and Ross Stores was flat on the results.

Read our full analysis of Urban Outfitters's results here and Ross Stores's results here.

There has been positive sentiment among investors in the apparel and footwear retail segment, with the stocks up on average 8% over the last month. Gap is up 1.8% during the same time, and is heading into the earnings with analyst price target of $19.3, compared to share price of $20.1.

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.