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.
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From Gap Inc.'s 10-Q and 10-K filings (SEC XBRL). YoY compares each quarter with the same quarter a year earlier; it is blank when the year-ago figure is missing or negative.
Annual results
Fiscal year
Revenue
Growth
EPS (diluted)
Growth
Net margin
FY2026
$15.37B
+1.9%
$2.13
-3.2%
5.3%
FY2025
$15.09B
+1.3%
$2.20
+64.2%
5.6%
FY2024
$14.89B
-4.7%
$1.34
—
3.4%
FY2023
$15.62B
-6.3%
$-0.55
-182.1%
-1.3%
FY2022
$16.67B
+20.8%
$0.67
—
1.5%
Frequently asked questions
When is Gap's next earnings date?
Gap (GAP) is scheduled to report on Thursday, November 19, 2026 after the market closes. Analysts expect EPS of $0.73.
What did Gap earn last quarter?
For the quarter ended Aug 2026, Gap reported diluted EPS of $1.38 (+142.1% year over year) on revenue of $3.65B (-2.0%).
Where do these numbers come from?
Reported revenue, net income and EPS come from the company's own 10-Q and 10-K filings with the SEC (XBRL data). The report date and consensus estimate come from the Nasdaq earnings calendar.
Not investment advice. Figures can be restated by the company in later filings.