secwatch.observer — SEC 8-K summary
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Issuer:     GAP INC (GAP)
CIK:        0000039911
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0000039911-22-000089
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39911/000003991122000089/0000039911-22-000089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39911/000003991122000089/gps-20221117.htm
  HTML page:      https://secwatch.observer/filing/0000039911-22-000089

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer