{"schema_version":"secwatch.filing_event.v1","accession":"0000039911-23-000007","form_type":"8-K","ticker":"GAP","cik":"0000039911","company_name":"GAP INC","filed_at":"2023-03-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.653432+00:00","generated_at":"2026-06-18T07:51:25.880738+00:00","sec_items":["2.02","5.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Gap Q4 net loss $273M; FY22 loss $202M; eliminates two exec roles; $550M savings identified","bullets":["Q4 net sales $4.24B down 6% YoY; comparable sales down 5%; diluted loss per share $0.75.","Full year net sales $15.6B down 6%; adjusted diluted loss per share $0.40; gross margin 34.3% (adjusted 35.0%).","Company identified $550M in annualized savings from cost structure optimization.","Eliminated Chief Growth Officer role (Asheesh Saksena) and Athleta CEO Mary Beth Laughton depart, effective March 9, 2023.","Board nearing selection of new CEO for Gap Inc."],"urls":{"canonical":"https://secwatch.observer/filing/0000039911-23-000007","json":"https://secwatch.observer/filing/0000039911-23-000007.json","markdown":"https://secwatch.observer/filing/0000039911-23-000007.md","text":"https://secwatch.observer/filing/0000039911-23-000007.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/39911/000003991123000007/0000039911-23-000007-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/39911/000003991123000007/gps-20230303.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T07:51:25.880738+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"95d407f76c105a7e26818ada9ee8595301f77e31","claim":"GAP INC reported the fourth quarter and fiscal year ended January 28, 2023 results: revenue $4.24 billion, net income Net loss of $273 million; diluted loss per share of $0.75.","evidence_excerpt":"this will provide our new leader with a quicker ramp in driving consistent, profitable growth over the long term.\" Fourth Quarter Fiscal 2022 - Financial Results • Net sales of $4.24 billion, down 6% compared to last year, inclusive of an estimated 1-point foreign exchange headwind. Net sales were in-line with the company’s expectations for mid-single digit declines","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/39911/000003991123000007/0000039911-23-000007-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter and fiscal year ended January 28, 2023"},{"label":"Revenue","value":"$4.24 billion"},{"label":"Net income","value":"Net loss of $273 million; diluted loss per share of $0.75"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"41d2b9240e","claim":"Asheesh Saksena departed as Chief Growth Officer at GAP INC.","evidence_excerpt":"the Company has decided to eliminate Asheesh Saksena's role as the Company's Chief Growth Officer, effective March 9, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/39911/000003991123000007/0000039911-23-000007-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"eliminated"},{"label":"Role","value":"Chief Growth Officer"}],"fact_type":"executive_change"},{"claim_id":"bae1a76cf2","claim":"Mary Beth Laughton departed as President and Chief Executive Officer of Athleta at GAP INC.","evidence_excerpt":"Mary Beth Laughton, a named executive officer of the Company, will be leaving her role as President and Chief Executive Officer of Athleta, effective March 9, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/39911/000003991123000007/0000039911-23-000007-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"leaving"},{"label":"Role","value":"President and Chief Executive Officer of Athleta"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}