Sep 15, 4:16 PM ET
Gap Inc. appointed Kirsten Green, founder and managing partner of venture firm Forerunner, as a director effective September 15, 2026. The filing discloses her director compensation but no financial results, and the change adds one board member to the company's directors.
- Kirsten Green was appointed to the board effective September 15, 2026.
- Green received stock units with an initial aggregate value of $185,000 upon appointment.
- She will receive a pro rata portion of the $95,000 annual cash retainer for fiscal 2026 paid to non-employee directors.
- Chair Mayo A. Shattuck III and CEO Richard Dickson were quoted welcoming the appointment in the press release.
Read the filing on SEC.gov ↗
Aug 27, 4:22 PM ET
Gap reported second-quarter fiscal 2026 net sales of $3.7 billion, down 2% from a year earlier, while GAAP diluted earnings per share rose to $1.38 from $0.57, helped by a $417 million tariff recovery adjustment. The company raised its adjusted full-year EPS outlook to $2.35 to $2.45 but narrowed its net sales growth outlook to up 1% to 1.5%, and said Old Navy CEO Horacio Barbeito will step down effective November 2, 2026, with Michael Francis succeeding him.
- Net sales were $3.7 billion, down 2%; comparable sales fell 1%, with Old Navy down 4% and Gap up 10%.
- GAAP diluted EPS was $1.38 versus $0.57 a year earlier; adjusted diluted EPS, excluding the net tariff recovery, was $0.52.
- Fiscal 2026 adjusted diluted EPS outlook raised to $2.35 to $2.45 from $2.30 to $2.40; net sales outlook is up 1% to 1.5%, down from up 1% to 2%.
- Horacio Barbeito steps down as Old Navy President and CEO effective November 2, 2026; Michael Francis, Chief Customer Officer, takes over that day.
Read the filing on SEC.gov ↗
Jul 20, 5:58 PM ET
On July 17, 2026, Gap Inc. amended its asset-based revolving credit facility, keeping the maximum availability at $2.2 billion and extending the maturity from July 13, 2027 to July 2031. The amendment also removes sustainability-linked pricing adjustments, and the facility's core terms, covenants and collateral remain largely unchanged.
- Facility size stays at $2.2 billion, with a $300 million letter of credit sublimit and a $200 million swingline sublimit
- Maturity extended from July 13, 2027 to July [ ], 2031; the exact day is left blank in the filing
- Loans bear interest at SOFR plus 125-150 basis points, depending on borrowing base availability
- Obligations remain secured by a first lien on inventory, certain receivables and related assets
Read the filing on SEC.gov ↗
May 28, 4:16 PM ET
Gap Inc. reported first quarter fiscal 2026 net sales of $3.5 billion, up 1%, and GAAP diluted EPS of $0.90 versus $0.51 a year earlier. Results include a $313 million net gain from a credit card interchange fee litigation settlement and a $50 million charitable contribution; excluding these items, adjusted diluted EPS was $0.38. The company raised its adjusted fiscal 2026 EPS outlook to $2.30 to $2.40 from $2.20 to $2.35, but lowered its net sales growth outlook to 1% to 2% from 2% to 3%.
- Net sales of $3.5 billion were up 1%; comparable sales were up 2%, the ninth consecutive quarter of positive comparable sales.
- Gross margin was 40.5%, down 130 basis points; merchandise margin was down 100 basis points, including an estimated net tariff impact of about 200 basis points.
- Returned $464 million to shareholders in the quarter, including a $200 million accelerated share repurchase and $201 million of open-market repurchases.
- Adjusted FY2026 diluted EPS outlook is $2.30 to $2.40, up from $2.20 to $2.35; net sales outlook is 1% to 2%, down from 2% to 3%.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.