The financials
The Gap, Inc. by the numbers
The Gap, Inc. (GAP) reported revenue of $3.50B in Q1 2026 (quarter ended May 2, 2026), up 1.0% from the same quarter a year earlier. That came with a gross margin of 41% and net income of $339M (9.7% of revenue). For the full year FY2025, revenue was $15.4B (+1.9% year on year) and net income $816M.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $3.50B | $3.46B | +1.0% |
| Gross profit | $1.42B | $1.45B | −2.1% |
| Operating income | $445M | $260M | +71% |
| Net income | $339M | $193M | +76% |
| Diluted EPS | $0.90 | $0.51 | +76% |