Earnings ·
The Gap, Inc. reported second quarter fiscal 2026 net sales of $3.7 billion, down 2% year-over-year, with comparable…
GAPGap Inc
The Gap, Inc. reported second quarter fiscal 2026 net sales of $3.7 billion, down 2% year-over-year, with comparable sales declining 1%. Net income was $501 million, or diluted earnings per share of $1.38, driven by a $417 million benefit from IEEPA tariff refunds; adjusted EPS excluding this item was $0.52. The company returned $262 million to shareholders in the quarter via dividends and buybacks, maintaining a quarterly dividend of $0.175 per share. Additionally, Gap announced that Michael Francis will succeed Horacio Barbeito as President and CEO of Old Navy on November 2, 2026, with Barbeito transitioning to an Executive Advisor role through January 30, 2027. The company operates in the specialty apparel retail industry, owning brands including Old Navy, Gap, Banana Republic, and Athleta.