NYSE$GAP
Gap, Inc. · Q1 2025 earnings
Q1 2025 earnings · · After market close · Investor relations
Briefing
Gap reported increased revenue and earnings in Q1 2025 compared to the prior year.
Gap Inc. delivered stronger than expected Q1 2025 results, driven by market share gains in Old Navy and Gap, with positive comparable sales and improved operating margin.
- Net sales increased 2% year-over-year to $3.5 billion.
- Gap and Old Navy both saw positive comparable sales and market share growth.
- Operating income grew to $260 million with a 7.5% margin.
- EPS rose to $0.51, up from $0.41 in Q1 2024.
Headline financials
Revenue & EPS history
Gap · Revenue · Quarterly
$3.46B
Revenue by segment
Gap · $4.04B total across 5 segments · Q3 2023
- Old Navy Global$2.14B+1.5%52.9%
- Gap Global$1.04B+0.2%25.8%
- Banana Republic Global$517M+7.9%12.8%
- Athleta Global$340M+6.3%8.4%
- Other$4M—0.1%
Forward guidance
Gap expects flat sales for Q2 FY25 and anticipates tariff pressures in the latter half of the year, with full-year operating income growing 8%-10%.
Tailwinds
- Full-year net sales expected to grow 1% to 2%.
- Full-year operating income expected to grow 8% to 10%.
- Gross margin for Q2 expected to be similar to Q1 levels.
- Operating expense to leverage slightly in Q2.
- Continued cost discipline and brand momentum at Old Navy and Gap.
Headwinds
- Tariffs could result in $100M to $150M in incremental costs.
- Free cash flow remains negative due to seasonal effects.
- Continued weak performance at Athleta with -8% comp sales.
- Banana Republic net sales declined 3% YoY.
- Inventory up 7% year-over-year due to earlier receipts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2025
+1.4%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+0.5%
Avg return
30 days after
55%
37 / 67 earnings
Positive
+33.8%
Q1 2024
Best reaction
-25.5%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | -14.5% | -13.5% | -9.5% | |
| Q3 2025 | +7.4% | +19.4% | +21.5% | |
| Q2 2025 | +1.7% | +4.2% | +1.4% | |
| Q1 2025 | -19.8% | -24.8% | -21.6% | |
| Q4 2024 | +18.6% | +8.0% | -1.8% | |
| Q3 2024 | +18.3% | +17.1% | +16.9% | |
| Q2 2024 | +0.0% | +1.8% | -4.5% | |
| Q1 2024 | +33.8% | +24.1% | +10.3% | |
| Q4 2023 | +9.8% | +19.2% | +27.2% | |
| Q3 2023 | +26.9% | +34.3% | +51.5% | |
| Q2 2023 | +5.9% | +15.0% | +3.0% | |
| Q1 2023 | +9.6% | +10.5% | +14.2% | |
| Q4 2022 | -9.1% | -16.6% | -21.8% | |
| Q3 2022 | +13.5% | +21.8% | +7.6% | |
| Q2 2022 | -0.9% | -2.4% | -14.5% | |
| Q1 2022 | +8.9% | +3.6% | -11.2% | |
| Q4 2021 | -2.2% | -0.8% | -7.2% | |
| Q3 2021 | -25.5% | -27.6% | -27.8% | |
| Q2 2021 | -3.5% | -2.7% | -13.0% | |
| Q1 2021 | -1.7% | -2.6% | -0.1% | |
| Q4 2020 | +6.1% | +12.6% | +16.3% | |
| Q3 2020 | -17.1% | -16.5% | -21.6% | |
| Q2 2020 | +3.0% | +4.3% | -4.3% | |
| Q1 2020 | +3.0% | +4.4% | +2.8% | |
| Q4 2019 | -1.5% | -23.9% | -17.1% | |
| Q3 2019 | +4.1% | +4.5% | +8.0% | |
| Q2 2019 | -0.2% | -8.1% | +1.4% | |
| Q1 2019 | -10.3% | -9.1% | -13.7% | |
| Q4 2018 | +16.4% | +7.3% | +3.2% | |
| Q3 2018 | +1.5% | +2.2% | -1.5% | |
| Q2 2018 | -7.9% | -4.7% | -13.7% | |
| Q1 2018 | -12.0% | -11.5% | +4.4% | |
| Q4 2017 | +8.2% | +9.5% | -1.2% | |
| Q3 2017 | +9.3% | +10.4% | +24.8% | |
| Q2 2017 | +0.4% | +1.7% | +24.0% | |
| Q1 2017 | -5.4% | -5.2% | -2.8% | |
| Q4 2016 | -0.7% | -0.2% | -6.4% | |
| Q3 2016 | +2.8% | +12.8% | +2.9% | |
| Q2 2016 | +5.6% | +6.0% | -8.2% | |
| Q1 2016 | +5.4% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q3 2015 | +6.3% | — | — | |
| Q2 2015 | -5.6% | — | — | |
| Q1 2015 | -1.7% | — | — | |
| Q4 2014 | +3.3% | — | — | |
| Q3 2014 | -2.7% | — | — | |
| Q2 2014 | +5.4% | — | — | |
| Q1 2014 | +1.4% | — | — | |
| Q4 2013 | -0.4% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q1 2013 | -1.0% | — | — | |
| Q4 2012 | +4.2% | — | — | |
| Q3 2012 | -0.1% | — | — | |
| Q2 2012 | +4.0% | — | — | |
| Q1 2012 | -5.1% | — | — | |
| Q4 2011 | -1.2% | — | — | |
| Q3 2011 | +0.5% | — | — | |
| Q2 2011 | +0.8% | — | — | |
| Q1 2010 | +2.3% | — | — | |
| Q1 2011 | +3.9% | — | — | |
| Q4 2010 | -0.7% | — | — | |
| Q4 2008 | -0.7% | — | — | |
| Q3 2009 | -3.3% | — | — | |
| Q3 2010 | -3.3% | — | — | |
| Q2 2009 | +0.3% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q4 2009 | +0.3% | — | — |
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