Highest-materiality recent filing
Gap Inc. Q1 net sales up 1% to $3.5B; adj. EPS $0.38; raises full-year EPS outlook
Net sales $3.5B (+1% YoY), comparable sales +2% (9th consecutive quarter).
All 11 board nominees elected; Robert J. Fisher received 71.8M against (22.6% of votes cast), highest dissent.
Gap adopts new equity award agreement forms under 2016 LTIP
Adopted new forms: RSU, deferred RSU, performance share, deferred performance share, and director stock unit agreements.
Gap Inc. reports FY2025 net sales up 2% to $15.4B, EPS $2.13; guides FY2026 adj. EPS $2.20-$2.35
Q4 net sales $4.2B (+2% YoY), comp sales +3%, diluted EPS $0.45; full-year EPS $2.13.
Gap Inc. Q3 net sales $3.9B +3% YoY, comp +5%; raises FY operating margin outlook to ~7.2%
Net sales $3.9B, up 3% YoY; diluted EPS $0.62; comp sales +5% (7th consecutive quarter positive).
Gap Inc. appoints Jody Gerson, UMPG CEO, to board of directors
Gerson is Chairman & CEO of Universal Music Publishing Group, effective immediately.
Gap Q2 EPS up 6% to $0.57; comp sales +1% for 6th straight quarter
Net sales flat at $3.7B; comparable sales +1% YoY; online sales +3% to 34% of total.
Gap Inc. names Maggie Gauger Athleta CEO; Chris Blakeslee steps down
Chris Blakeslee to step down as Athleta CEO effective July 31; last day Nov 3, 2025.
Gap Inc. Q1 net sales $3.5B (+2% YoY), EPS $0.51; raises FY2025 outlook despite tariff headwinds
Q1 net sales $3.5B (+2% YoY), comparable sales +2%; net income $193M, diluted EPS $0.51.
Gap holds 2025 annual meeting; all director nominees elected, auditor ratified, say-on-pay approved
All 11 director nominees elected; highest vote count 324.8M for Brady Brewer, lowest 275.4M for Robert J. Fisher.
Gap adopts new equity award form agreements on March 10, 2025; no material impact
On March 10, 2025, Gap adopted new forms of Restricted Stock Unit Award, Performance Share, and Director Stock Unit agreements under its 2016 LTIP.
Gap Q4 EPS $0.54; FY24 net sales $15.1B, raises dividend 10%
Q4 diluted EPS $0.54 on net sales of $4.1B (down 3% YoY); comparable sales +3%.
Gap Inc. Q3 net sales $3.8B (+2% YoY); EPS $0.72; raises FY outlook
Net sales $3.8B (+2% YoY); comparable sales +1%; operating margin 9.3% (improved 270bps).
Gap amends 2024-2026 PRSUs for top execs; vests 100% at certification
Amendment accelerates vesting of 2024-2026 PRSUs: previously 50% on certification date and 50% one year later, now 100% vests on certification.
Gap Inc. Q2 net sales up 5% to $3.7B, EPS $0.54; raises FY gross margin and op income outlook
Net sales $3.7B, up 5% YoY; comparable sales up 3% driven by Old Navy and Gap.
The Gap adopts new executive severance plan covering 4 named officers effective July 1, 2024
Plan covers Katrina O'Connell, Horacio Barbeito, Chris Blakeslee, and Mark Breitbard.
Gap Inc. Q1 net sales up 3% to $3.4B; raises full-year guidance
Net sales of $3.4B, up 3% YoY; comparable sales up 3% with positive comps at all four brands.
Gap shareholders elect all directors, approve officer exculpation amendment
All 11 director nominees elected; Richard Dickson received 319.2M votes for, 1.6M against.
Gap adopts new equity award agreement forms under 2016 LTIP
On March 13, 2024, The Gap adopted new Restricted Stock Unit, Performance Share, and Director Stock Unit agreements.
Gap Q4 net sales up 1% to $4.3B; EPS $0.49; full-year operating cash flow $1.5B
Q4 net sales $4.3B (+1% YoY, flat comparable); gross margin 38.9% (+530bps); net income $185M ($0.49 EPS).
Gap Inc. Q3 net sales $3.8B (-7% YoY); adjusted EPS $0.59; gross margin up 390 bps
Net sales $3.8B (-7% YoY, incl. ~2pp negative from Gap China sale); comparable sales -2%.
Gap Q2: net sales $3.55B (-8% YoY), gross margin +310bps, adj EPS $0.34; new CEO Richard Dickson
Net sales $3.55B, down 8% YoY (includes 1pt FX headwind, 2pts from Gap China sale). Comparable sales down 6%.
Gap Inc. appoints Richard Dickson as President and CEO, effective Aug 22, 2023
Dickson, former Mattel COO, succeeds interim CEO Bob Martin; Martin remains Board Chair.
Gap Q1 net sales $3.28B down 6%; reported loss $0.05, adj EPS $0.01
Net sales $3.28B (-6% YoY); comparable sales -3%; online sales -9% to 37% of total.
Gap shareholders approve 25M share increase to 2016 LTIP; all directors elected
Shareholders approved amended LTIP, increasing authorized shares by 25 million.
Gap announces restructuring plan to cut 1,800 jobs with $100-120M costs, $300M annual savings
Workforce reduction of ~1,800 employees, primarily headquarters and upper field staff.
Gap adopts new equity award forms under 2016 Long-Term Incentive Plan
New forms for Non-Qualified Stock Options, Restricted Stock Units, and Performance Shares.
Gap Q4 net loss $273M; FY22 loss $202M; eliminates two exec roles; $550M savings identified
Q4 net sales $4.24B down 6% YoY; comparable sales down 5%; diluted loss per share $0.75.
Gap Inc. Q3 net sales $4.04B (+2% YoY); adjusted EPS $0.71; margins compress, inventory up 12%
Net sales $4.04B (+2% YoY); comparable sales +1%.
Gap Inc. appoints Mattel COO Richard Dickson to board of directors
Richard Dickson, President and COO of Mattel, elected to Gap Inc. board effective Nov 8, 2022.
Gap Inc. posts Q2 net loss of $49M; sales down 8%, inventory up 37%
Bob Martin (Executive Chairman) named Interim President & CEO; search for permanent CEO underway.
Gap amends bylaws to comply with SEC universal proxy rules
Board approved amendment to Article II, Section 6(C) on August 15, 2022.
Gap discloses Interim CEO Bob L. Martin compensation: $1.4M salary, quarterly RSU grants
Interim CEO Bob L. Martin effective July 11, 2022; annual base salary $1.4M, target bonus 100%.
Gap enters $2.2B ABL credit facility maturing 2027, replacing prior facility
Initial aggregate principal amount of $2.2 billion under the ABL Credit Facility.
Gap CEO Sonia Syngal steps down; Bob Martin interim CEO; Q2 margin guidance turns negative
Sonia Syngal resigns as CEO and Board director effective July 11, 2022; Bob Martin named interim CEO.
Gap Inc. Q1 net loss $162M; revenue -13%; Old Navy comps -22%; FY outlook cut
Net loss $162M ($0.44 diluted loss per share); net sales $3.5B, down 13% from last year.
All 11 director nominees elected; votes ranged from 284.5M to 317.0M in favor.
Gap Inc. updates Q1 outlook to low-to-mid teens decline; Old Navy CEO Nancy Green departs
Nancy Green exits as Old Navy President/CEO effective May 1, 2022; external search underway.
Gap adopts new equity award agreement forms under 2016 LTIP
New Non-Qualified Stock Option, Restricted Stock Unit, and Performance Share agreement forms adopted on March 4, 2022.
Gap Inc. Q4 adjusted loss $0.02; FY2021 adj. EPS $1.44; guides FY2022 adj. EPS $1.85-$2.05
Q4 net sales $4.5B, down 3% vs 2019; online 43% of sales; adjusted diluted loss per share $0.02.
Gap Q3 adjusted EPS $0.27; net sales -1% vs 2019; supply chain hit, guidance revised
Net sales $3.9B (-1% vs 2019); comparable sales +5%; online sales +48%.
Gap board member Isabella D. Goren resigns effective Dec. 31, 2021
Isabella D. Goren resigned from the Board of Directors, effective December 31, 2021.
Gap Inc. appoints marketing executive Lisa Donohue to board of directors
Gap Inc. appointed Elisabeth B. Donohue to its Board of Directors effective November 9, 2021.
Gap closes $1.5B senior notes offering, repurchases $1.9B high-yield secured notes
Closed $1.5B senior unsecured notes: $750M 3.625% due 2029 and $750M 3.875% due 2031.
Gap launches $1.5B refinancing: tenders secured notes, prices new unsecured debt
Offers to purchase any & all of 8.375% 2023 ($500M), 8.625% 2025 ($750M), 8.875% 2027 ($1B) secured notes.
Gap Inc. Q2 net sales $4.2B (+5% vs 2019); raises FY EPS guidance to $1.90-$2.05
Q2 comparable sales up 12% vs 2019; Old Navy +21%, Athleta +35%, Gap -10%, Banana Republic -15%.
On August 22, 2023, in connection with his stepping down as interim Chief Executive Officer of the Company and continuing as Executive Chair of the Company's Board of Directors (the "Board") through October 28, 2023, the Company and Bob L. Martin entered into an amendment
appointed Richard Dickson as the Company's Chief Executive Officer ("CEO") and President, effective August 22, 2023
the Company has decided to eliminate Asheesh Saksena's role as the Company's Chief Growth Officer, effective March 9, 2023.
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.
On November 8, 2022, the board of directors (the “Board”) of The Gap, Inc. (the “Company”) appointed Richard Dickson to serve as a director of the Company and as a member of the Board's Compensation and Management Development Committee, with such appointments effective the same day.
On July 11, 2022, The Gap, Inc. (the "Company") filed a Current Report on Form 8-K (the "Original 8-K") announcing the appointment of Bob L. Martin as the Company's Interim Chief Executive Officer.
Executive Chairman Bob Martin will serve as Interim Chief Executive Officer and Mayo Shattuck will continue to serve as lead independent director of the Company’s Board of Directors.
On July 11, 2022, The Gap, Inc. (the "Company") issued a press release (the “Press Release”) announcing that Sonia Syngal is stepping down from her position as President and Chief Executive Officer of the Company, and has resigned from the Company’s Board of Directors, both effective immediately.
Nancy Green, a named executive officer of The Gap, Inc. (the “Company”), will be leaving her role as President and Chief Executive Officer of Old Navy.
On November 10, 2021, The Gap, Inc. (the “Company”) was notified of and accepted Isabella D. Goren’s resignation from its Board of Directors, effective December 31, 2021.
On November 9, 2021, the board of directors (the “Board”) of The Gap, Inc. (the “Company”) appointed Elisabeth (Lisa) B. Donohue to serve as a director of the Company
Max materiality 0.85 · Median 0.70 · Most common event earnings