The Gap, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 30, 2022
August 25, 2022 at 04:15 pm
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The Gap, Inc. reported earnings results for the second quarter and six months ended July 30, 2022. For the second quarter, the company reported sales was USD 3,857 million compared to USD 4,211 million a year ago. Net loss was USD 49 million compared to net income of USD 258 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.68 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to diluted earnings per share from continuing operations of USD 0.67 a year ago.
For the six months, sales was USD 7,334 million compared to USD 8,202 million a year ago. Net loss was USD 211 million compared to net income of USD 424 million a year ago. Basic loss per share from continuing operations was USD 0.57 compared to basic earnings per share from continuing operations of USD 1.12 a year ago. Diluted loss per share from continuing operations was USD 0.57 compared to diluted earnings per share from continuing operations of USD 1.1 a year ago.
The Gap, Inc. is a specialty apparel company in America. The Company offers apparel, accessories and personal care products for women, men and children. Its Old Navy, Gap, Banana Republic, and Athleta brands offer clothing, accessories and lifestyle products for men, women and children. It is an omni-channel retailer, with sales to customers both in stores and online, through Company-operated and franchise stores, websites, and third-party arrangements. Its omni-channel services, including buying online pick-up in store, order-in-store, find-in-store, and ship-from-store, as well as enhanced mobile-enabled experiences, are tailored across its collection of brands. Gap includes adult apparel and accessories, GapKids, babyGap, Gap Maternity, GapBody, and GapFit collections. Banana Republic is a premium lifestyle retailer celebrating exploration and self-expression through timeless quality, versatile fabrics, and exceptionally made womenswear, menswear, and home designs.