---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-24-000127"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2024-05-30T23:59:59+00:00"
generated_at: "2026-06-01T07:30:49.409155+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gap Inc. Q1 net sales up 3% to $3.4B; raises full-year guidance

## Summary
- Net sales of $3.4B, up 3% YoY; comparable sales up 3% with positive comps at all four brands.
- Gross margin 41.2%, up 410 bps YoY; merchandise margin up 340 bps driven by lower commodity costs.
- Operating income $205M with operating margin of 6.1%; net income $158M, diluted EPS $0.41.
- Ending inventory down 15% to $1.95B; cash and short-term investments $1.7B, up 48% YoY.
- Raised full-year sales and operating income guidance reflecting Q1 outperformance.

## SEC filing metadata
- accession: 0000039911-24-000127
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2024-05-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/39911/000003991124000127/0000039911-24-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991124000127/gps-20240530.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-24-000127
- JSON: https://secwatch.observer/filing/0000039911-24-000127.json
- Plain text: https://secwatch.observer/filing/0000039911-24-000127.txt

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