---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-22-000034"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2022-05-26T23:59:59+00:00"
generated_at: "2026-06-25T06:56:10.818987+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Gap Inc. Q1 net loss $162M; revenue -13%; Old Navy comps -22%; FY outlook cut

## Summary
- Net loss $162M ($0.44 diluted loss per share); net sales $3.5B, down 13% from last year.
- Comparable sales down 14%; Old Navy -22%, Gap -11%, Banana Republic +27%, Athleta -7%.
- Gross margin 31.5% (down 930 bps); inventory +34% to $3.2B; free cash flow -$590M.
- FY2022 outlook: revenue decline low-mid single digits; reported EPS $0.40-$0.70; adjusted EPS $0.30-$0.60.
- CEO cites Old Navy execution challenges and macro headwinds; confident in long-term strategy.

## SEC filing metadata
- accession: 0000039911-22-000034
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2022-05-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000003991122000034/0000039911-22-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991122000034/gps-20220526.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-22-000034
- JSON: https://secwatch.observer/filing/0000039911-22-000034.json
- Plain text: https://secwatch.observer/filing/0000039911-22-000034.txt

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