Gap jumps after annual profit forecast raise

The Gap

27/08/2026 21:30

** Gap's GAP.N shares rise ~10% to $22.50 in extended trading
** The apparel retailer raises annual profit forecast, betting on sustained momentum at its namesake brand even as pressure at some of its other labels persists
** Raises its adjusted annual earnings per share by 5 cents at both ends to a range of $2.35 to $2.45 
** Expects fiscal 2026 sales growth of 1% to 1.5%, versus its prior forecast of 1% to 2%
** Co's Q2 revenue fell 2% to $3.65 billion, narrowly missing analysts' estimate of ~$3.69 billion, while adjusted profit of 52 cents per share beat expectations of 48 cents 
** Up to last close, stock down ~19% YTD 

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)
 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))