GAP Inc. 1Q 2026: Revenue $3.5B, EPS $0.9— 10-Q Summary
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GAP Inc. reported first-quarter 2026 results with revenue of $3.5B and diluted EPS of $0.9, driven by modest sales gains across most brands and improved earnings versus the prior-year quarter.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $3.5B | $3.46B | 1% |
| Net income² | $339M | $193M | 75.6% |
| Diluted EPS³ | $0.9 | $0.51 | 76.5% |
¹ Reported as “Net sales”. ² Reported as “Net income”. ³ Reported as “Earnings per share - diluted”.
Business Highlights
- Revenue growth: Net sales rose 1% year over year, supported by gains across most brands despite softness at Athleta.
- Channel & omni capability: Continued investments in buy-online-pick-up, ship-from-store and mobile enhancements to support seamless shopping.
- Brand performance: Gap and Old Navy drove positive comps (Gap +10% global, Old Navy +1%); Athleta comps declined.
- Margins and operations: Gross margin faced pressure from tariffs (about a 2-point impact) and higher cost of goods; occupancy edged up with modest net store openings (net +3 company-operated).
- Capital and execution: Free cash flow was positive and the company continued targeted store investments.
Original SEC Filing: GAP INC [ GAP ] - 10-Q - May. 29, 2026
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.