earnings
confidence high
sentiment positive
materiality 0.75
Gap Inc. Q2 net sales up 5% to $3.7B, EPS $0.54; raises FY gross margin and op income outlook
GAP INC
2024-Q2 EPS reported
$0.95
revenue$7,108,000,000
- Net sales $3.7B, up 5% YoY; comparable sales up 3% driven by Old Navy and Gap.
- Gross margin 42.6%, up 500 bps; operating margin 7.9% vs 2.9% last year.
- Net income $206M, diluted EPS $0.54; free cash flow $397M.
- Old Navy net sales +8% (comp +5%); Athleta comp -4%, expects positive remainder of year.
- FY2024 outlook: gross margin ~200 bps expansion; operating income growth mid-to-high 50%.