Gap — Mar 6, 2025 release

Full Year Fiscal 2025   Full Year Fiscal 2025 Outlook Full Year Fiscal 2024 Results Net sales 1% to 2% growth $15.1 billion Operating income 8% to 10% growth $1.11 billion Net interest income Approximately $15 million $25 million Effective tax rate Approximately 26% 25.8% Capital expenditures Approximately $600 million $447 million Net store closures 1 Approximately 35 56 First Quarter Fiscal 2025   First Quarter Fiscal 2025 Outlook First Quarter Fiscal 2024 Results Net sales Flat to up slightly $3.4 billion Gross Margin Expand slightly year-over-year 41.2% Operating expense (% of net sales) Leverage slightly year-over-year 35.2% Webcast and Conference Call Information Whitney Notaro, Head of Investor Relations at Gap Inc., will host a conference call to review the company's fourth quarter and fiscal year 2024 results beginning at approximately 2:00 p.m. Pacific Time today. Ms. Notaro will be joined by President and Chief Executive Officer, Richard Dickson and Chief Financial Officer, Katrina O'Connell. A live webcast of the conference call and accompanying materials will be available online at investors.gapinc.com. A replay of the webcast will be available at the same location. Non-GAAP Disclosure This press release and related conference call include financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are therefore referred to as non-GAAP financial measures. The non-GAAP measures described below are intended to provide investors with additional useful information about th