GAP (GAP) Q2 FY27 earnings call

Earnings call· Jul 2026 (Q2 FY27)· Consumer Discretionary· Aug 27, 2026

Source: earnings call transcript

The Gap, Inc. reported mixed Q2 FY27 results, with a net sales decline driven by Old Navy's underperformance and Athleta's ongoing challenges. Despite this, strong operational rigor and disciplined inventory management led to gross margin expansion, exceeding profit expectations. The Gap brand continued its robust momentum with double-digit comparable sales, and the company reinforced its commitment to shareholder returns through significant share repurchases.

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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	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.