Business
Gap Inc. Reports First Quarter Fiscal 2026 Results, Raises Full Year Earnings Per Share Outlook
Gap Inc. (NYSE: GAP), the largest specialty apparel company in the U.S. with a purpose-driven house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its first quarter ended May 2, 2026.
About this update from Gap, Inc. (the)
[{"type":"text","content":"Net sales up 1% compared to last year ","length":37,"tagName":"p","attribs":{}},{"type":"text","content":"Comparable sales up 2%, positive for ninth consecutive quarter ","length":62,"tagName":"p","attribs":{}},{"type":"text","content":"Gross margin of 40.5%, exceeded outlook","length":39,"tagName":"p","attribs":{}},{"type":"text","content":"Returned $464 million in cash to shareholders in the form of share repurchases and dividends","length":92,"tagName":"p","attribs":{}},{"type":"text","content":"Raises full year earnings per share outlook","length":43,"tagName":"p","attribs":{}},{"type":"text","content":"SAN FRANCISCO, May 28, 2026 /PRNewswire/ -- Gap Inc. (NYSE: GAP), the largest specialty apparel company in the U.S. with a purpose-driven house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its first quarter ended May 2, 2026.","length":304,"tagName":"p"},{"type":"text","content":""In the first quarter, Gap Inc. delivered continued progress against our strategic priorities, including further market share gains and achieving our ninth consecutive quarter of positive comparable sales," said President and Chief Executive Officer, Richard Dickson. "Gap brand delivered a standout quarter with a double-digit comp, marking one of the brand's strongest performances in over two decades. Performance across our other brands was varied, reflecting both the different stages of their transformation and some brand-specific dynamics."","length":572,"tagName":"p"},{"type":"text","content":"Dickson continued, "As we move forward, we remain focused on continuous improvement in our core business, while seeding growth accelerators to help amplify the reach and relevance of our portfolio over time. At the same time, we are increasing capital returns to shareholders, reflecting the growing strength of our balance sheet and our strong conviction in the long-term potential of the company."","length":409,"tagName":"p"},{"type":"text","content":"First Quarter Fiscal 2026 – Financial Results","length":45,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net sales of $3.5 billion were up 1% compared to last year. Comparable sales were up 2%.","length":88,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"te...