Gap — Mar 5, 2026 release

Full Year Fiscal 2026   Full Year Fiscal 2026 Outlook Full Year Fiscal 2025 Results 1 Net sales Up 2% to 3% year-over-year $15.4 billion Gross margin Flat to up slightly year-over-year 40.8% Adjusted operating expense (% of net sales) About flat year-over-year 33.5% Adjusted operating margin About 7.3% to 7.5% 7.3% Net interest income Approximately $10 million to $15 million $17 million Effective tax rate Approximately 27% 27.9% Adjusted diluted earnings per share Approximately $2.20 to $2.35 $2.13 Capital expenditures Approximately $650 million $470 million Net store closures 2 About flat 32 1 There were no adjusted metrics during fiscal 2025; therefore, reported amounts for operating expense as a percentage of net sales, operating margin, and diluted earnings per share are included for comparative purposes. 2 Refers to company-operated stores. First Quarter Fiscal 2026   First Quarter Fiscal 2026 Outlook First Quarter Fiscal 2025 Results 1 Net sales Up 1% to 2% year-over-year $3.5 billion Gross margin Down approximately 150bps to 200bps including an estimated 200 bps of net tariff impact 41.8% Adjusted operating expense (% of net sales) About 35% 34.3% 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 2025 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 c