secwatch.observer — SEC 8-K summary
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Issuer:     GAP INC (GAP)
CIK:        0000039911
Form:       8-K
Filed at:   2021-11-23T23:59:59+00:00
Accession:  0000039911-21-000130
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39911/000003991121000130/0000039911-21-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39911/000003991121000130/gps-20211123.htm
  HTML page:      https://secwatch.observer/filing/0000039911-21-000130

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