GAP: revenue $3.65B, net income $501.0M. Gap Q2 profit surges.

Filed August 28, 2026 · Period ending August 1, 2026 · Compared to 10-Q Aug 29, 2025 · ~1 min read

Key Changes

• high

  Net income jumped 131.9% to $501.0M, or $1.38 per share, driven by one-time items: a $417M IEEPA tariff recovery and a $313M credit card interchange settlement gain.

  MD&A: Results verify on EDGAR →
• high

  Operating income more than doubled to $676M from $292M, but the increase is largely non-recurring; gross margin rose to 52.8% from 41.2% due to the tariff refunds.

  MD&A: Operating income verify on EDGAR →
• high

  Share repurchases accelerated: $601M spent in the first half under a new $1.0B authorization, including a $200M accelerated buyback; $399M remains.

  Notes: Share repurchases verify on EDGAR →