Gap Inc The
- GAP Inc. plunged 14.8% to $23.80 after the specialty apparel company failed to meet analyst expectations in the fiscal first quarter of 2025 and warned of tariff-related costs in the future.
Revenue increased to $3.46 billion from $3.39 billion, net income climbed to $193 million from $158 million, and diluted earnings per share rose to 51 cents from 41 cents a year ago.
Comparable sales were up 2% from a year earlier, and online sales increased 6%, representing 39% of total net sales.
Excluding the potential impact from imposed tariffs, the company guided full-year net sales to grow between 1% and 2% from $15.1 billion and net interest income to decline to $15 million from $25 million in the previous year, respectively.
Furthermore, GAP plans to close approximately 35 stores during 2025, after closing 56 stores last year.
For the second quarter, the retailer estimated net sales to remain flat year-over-year.
May 30, 2025
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