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Gap Fiscal Q1 GAAP Earnings, Revenue Rise

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Gap (GAP) reported fiscal Q1 adjusted earnings late Thursday of $0.38 per diluted share. The company did not provide comparable adjusted earnings for the year-ago quarter. Analysts polled by FactSet expected $0.37.

The company reported GAAP earnings of $0.90 per diluted share, up from $0.51 a year earlier.

Revenue for the 13 weeks ended May 2 was $3.50 billion, up from $3.46 billion a year earlier.

Analysts surveyed by FactSet expected $3.52 billion.

For Q2, the company expects net sales to be flat to down 1% year-over-year.

For fiscal 2026, the company now expects adjusted EPS of $2.30 to $2.40, up from the prior forecast of $2.20 to $2.35. Analysts expect $2.29.

The company now expects fiscal 2026 net sales to be up 1% to 2% year-over-year, versus the prior outlook for 2% to 3% growth.

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