Gap Inc. Reports Strong Q3 Earnings and Raises 2024 Forecast

CEO Richard Dickson's turnaround strategy drives growth across all brands, boosting confidence ahead of the holiday season.

Gap Inc. posted third-quarter revenue of $3.83 billion, a 2% year-over-year increase, and earnings per share of 72 cents, exceeding analyst expectations.
The company raised its full-year guidance, now projecting sales growth of 1.5% to 2%, with improved gross and operating margins.
Old Navy, Gap, Banana Republic, and Athleta all reported net sales growth, with Athleta leading at 4% and Gap brand achieving its fourth consecutive quarter of positive comparable sales.
Online sales grew 7% year-over-year, offsetting a 2% decline in store sales caused by weather-related disruptions, including hurricanes and unseasonably warm conditions.
Gap's stock surged over 12% following the earnings report, reflecting investor optimism about the company's strategic progress and holiday season outlook.