---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-059262"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2026-08-27T20:22:34+00:00"
generated_at: "2026-08-27T20:24:14.525422+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Gap Q2 beats profit expectations, raises FY EPS outlook; Old Navy CEO transition

## Summary
- Net sales $3.7B, down 2% YoY; comparable sales -1%; store sales -3%, online -1%.
- Adjusted operating income $259M (7.1% margin) vs expectations; reported operating income $676M incl. IEEPA tariff recovery.
- Adjusted EPS $0.52; net income $501M, diluted EPS $1.38; raised FY EPS outlook.
- Returned $726M to shareholders YTD via buybacks and dividends; quarterly dividend $0.175/share.
- Haio Barbeito steps down as Old Navy CEO Nov 2; succeeded by Michael Francis (current Chief Customer Officer, Old Navy).

## SEC filing metadata
- accession: 0001628280-26-059262
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2026-08-27T20:22:34+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000162828026059262/0001628280-26-059262-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000162828026059262/gps-20260827.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-059262
- JSON: https://secwatch.observer/filing/0001628280-26-059262.json
- Plain text: https://secwatch.observer/filing/0001628280-26-059262.txt

## Key facts
- Executive change
  Horacio "Haio" Barbeito departed as President and Chief Executive Officer of Old Navy at GAP INC.
  - Action: stepping down
  - Role: President and Chief Executive Officer of Old Navy
  source text: On August 27, 2026, the Company issued a press release (the “Transition Press Release”) announcing that Horacio “Haio” Barbeito will be stepping down from his role as President and Chief Executive Officer of Old Navy, effective November 2, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39911/000162828026059262/0001628280-26-059262-index.htm

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