Gap Inc. reported first-quarter results that beat market estimates as it continued to gain market share, thanks to the popularity of its Gap and Old Navy brands. In addition, the company anticipates a slight shortfall due to tariffs, as it plans to invest more in the United States and double its vendor sourcing of American-grown cotton in 2026.
On May 29, the San Francisco-based specialty apparel company, with a portfolio of brands including Old Navy, Gap, Banana Republic, and Athleta, reported net sales of $3.5 billion for the first quarter of fiscal year 2025, which ended May 3. This marked a 2 percent increase from the same period in fiscal 2024, slightly beating the Zacks consensus estimates.
