GAP (GAP) Q1 FY27 earnings call

Earnings call· Apr 2026 (Q1 FY27)· Consumer Discretionary· May 28, 2026

Source: earnings call transcript

A two-speed portfolio: Gap brand's cultural-relevance playbook is compounding while Old Navy's seasonal-assortment miss and Athleta's rebuild drag the top line, prompting a trimmed revenue view but a raised EPS guide on margin and cost rigor. Management frames the back half as the recovery window as seasonal categories fade and denim, active, beauty and sports-licensing initiatives scale, leaning on a strengthening balance sheet to fund investment and step up capital returns.

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GAP operating KPIs by quarter

GAP operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Jan 2026 Q4 FY26	This call Apr 2026 Q1 FY27	Change vs prior quarter
Loyalty program members	<40M has one of the largest programs in US apparel retail with nearly 40 million active members. Source: earnings call transcript	~40M In the first quarter, we also relaunched our loyalty program, Encore, transitioning our house file of around 40 million customers from a traditional transaction-based program to a broader customer engagement platform. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.