What factors drove the changes in The Gap's revenue and profit?

What were the key takeaways from The Gap's earnings call?

What is The Gap's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for The Gap year over year?

Did The Gap beat or miss consensus estimates last quarter?

What were the key takeaways from The Gap’s earnings call?

What is The Gap's gross profit margin?

What guidance did The Gap's management provide for the next earnings period?

- **Revenue Beat**: 5% comp growth, with Old Navy (+6%), Gap (+7%), and Banana Republic (+4%) leading.
- **Gross Margin Resilience**: 42.4% despite tariffs, driven by AUR growth and lower discounting.
- **Beauty Expansion**: Old Navy Beauty pilot in 150 stores, targeting 2026 scaling.
- **Tariff Mitigation**: 2025 net impact 100-110bps; 2026 mitigation via sourcing and pricing.
- **Holiday Confidence**: Strong campaigns and supply chain readiness for peak demand.

**【CEO Summary Section】**
- **Revenue Growth**: Comparable sales up 5% YoY, highest in over 4 years, driven by Old Navy (+6%), Gap (+7%), and Banana Republic (+4%).
- **Brand Momentum**: Old Navy gains market share in denim, active, and kids; Gap denim ranks #6 in U.S.; Banana Republic improves men's and women's product.
- **Strategic Initiatives**: Expansion into beauty with Old Navy pilot; Disney and Anna Sui collaborations exceed expectations; holiday campaigns emphasize cultural relevance.
- **Operational Excellence**: $2.5B cash balance; AI-driven supply chain boosts productivity by 30%.

**【CFO Financial Commentary】**
- **Net Sales**: $3.9B (+3% YoY), with Old Navy ($2.3B +5%), Gap ($951M +6%), and Banana Republic ($464M +1%).
- **Gross Margin**: 42.4% (-30bps YoY) due to tariffs, but AUR growth and lower discounting offset 120bps.
- **Operating Margin**: 8.5% (-80bps YoY), with $0.62 EPS (-14% YoY) due to tariffs.
- **Updated Guidance**: Full-year net sales growth 1.7-2%, gross margin deleverage 50bps, operating margin 7.2%.

**【Q&A Highlights】**
- **AUR Trends**: Gap and Old Navy AUR growth driven by full-price sell-through; Q4 expects similar trends.
- **Store Strategy**: Closing 35 underperforming stores; testing new formats like Gap denim shops.
- **Tariff Mitigation**: 2026 tariffs to be offset by sourcing, pricing, and promotions; 2025 net tariff impact 100-110bps.
- **Athleta Update**: Reorganizing under new leadership; inventory aligned with lower sales trend.
- **Partnerships**: Collaborations (e.g., Sandy Liang, Anna Sui) attract new customers, 25% of collab shoppers new to brand.

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