---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-21-000130"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2021-11-23T23:59:59+00:00"
generated_at: "2026-06-28T05:54:23.557509+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gap Q3 adjusted EPS $0.27; net sales -1% vs 2019; supply chain hit, guidance revised

## Summary
- Net sales $3.9B (-1% vs 2019); comparable sales +5%; online sales +48%.
- GAAP diluted loss per share $0.40; adjusted EPS $0.27.
- Gross margin 42.1% (best Q3 in over 10 years); operating margin 3.9% reported, 4.3% adjusted.
- Supply chain disruption caused ~$300M lost sales, $100M air freight; full-year guidance revised.
- Restructured debt: retired $2.25B notes, issued $1.5B lower-coupon notes; expects $140M annual interest savings.

## SEC filing metadata
- accession: 0000039911-21-000130
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2021-11-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000003991121000130/0000039911-21-000130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991121000130/gps-20211123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-21-000130
- JSON: https://secwatch.observer/filing/0000039911-21-000130.json
- Plain text: https://secwatch.observer/filing/0000039911-21-000130.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.