---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-22-000089"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2022-11-17T23:59:59+00:00"
generated_at: "2026-06-21T16:57:17.363996+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gap Inc. Q3 net sales $4.04B (+2% YoY); adjusted EPS $0.71; margins compress, inventory up 12%

## Summary
- Net sales $4.04B (+2% YoY); comparable sales +1%.
- Reported gross margin 37.4%; adjusted gross margin 38.7%, down 320 bps YoY.
- Adjusted operating income $156M (3.9% margin); includes $83M gain on sale of UK DC and $53M Yeezy Gap impairment.
- Adjusted diluted EPS $0.71 (includes $0.33 tax benefit); reported EPS $0.77.
- Inventory $3.04B (+12% YoY); free cash flow -$689M YTD; quarterly dividend $0.15/share maintained.

## SEC filing metadata
- accession: 0000039911-22-000089
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2022-11-17T23:59:59+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/39911/000003991122000089/0000039911-22-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991122000089/gps-20221117.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-22-000089
- JSON: https://secwatch.observer/filing/0000039911-22-000089.json
- Plain text: https://secwatch.observer/filing/0000039911-22-000089.txt

## Key facts
- Earnings Releases
  GAP INC reported third quarter of fiscal 2022 ended October 29, 2022 results: revenue $4.04 billion, net income $282 million, EPS $0.77.
  - Period: third quarter of fiscal 2022 ended October 29, 2022
  - Revenue: $4.04 billion
  - Net income: $282 million
  - EPS: $0.77
  - Result: reported results
  source text: employees and shareholders expect from Gap Inc.” said Bob Martin, Executive Chairman and Interim CEO, Gap Inc. Third Quarter Fiscal 2022 - Financial Results • Net sales of $4.04 billion, up 2% compared to last year. Comparable sales were up 1% year-over-year. ◦ Online sales increased 5% compared to last year and represented 39% of total net sales. ◦ Store sales
  evidence_url: https://www.sec.gov/Archives/edgar/data/39911/000003991122000089/0000039911-22-000089-index.htm

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