Skip to main content
BoF Logo

Agenda-setting intelligence, analysis and advice for the global fashion community.

The Business of Fashion
Financial Markets

Gap's Third-Quarter Profit Drops Nearly 18 Percent

The brand earned $204 million in the three-month period that ended Oct. 29, compared with $248 million a year earlier.
Source: Gap
By
  • Associated Press

SAN FRANCISCO, United States — Gap says its third-quarter profit fell nearly 18 percent as costs related to store closures outside North America announced in May hurt results.

The San Francisco, California-based retailer, which operates stores under its namesake brand as well as Banana Republic and Old Navy, earned $204 million, or 51 cents per share in the three-month period that ended Oct. 29. That compares with $248 million, or 61 cents per share, a year earlier.

Adjusted results were 60 cents per share, which matched estimates from FactSet. As previously reported, Gap posted revenue of $3.8 billion, down 1.5 percent from the year-ago period.

The company, which is struggling to reinvent itself amid changing consumer preferences, posted a 3 percent decline in revenue at stores open at least a year.

ADVERTISEMENT

By Anne D'Innocenzio.

Related Articles:

[ Gap Climbs After Better Than Expected September Sales ]

[ Gap Says Key Sales Measure Slides 6 Percent in May ]

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

L Catterton: Finding Value in a Tough Market

Nikhil Thukral, managing partner at the LVMH-affiliated private equity fund, talks about the ingredients of winning companies, the dynamics challenging fashion's incumbents and how economic shifts are shaping investor strategies in the BoF-McKinsey State of Fashion 2025.

The Best of BoF 2023: Diversity’s Litmus Test

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.

The Year Ahead: The Future of Fashion Deal-Making

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.

view more
Latest News & Analysis
Unrivalled, world class journalism across fashion, luxury and beauty industries.

Can Big Luxury Find Its New Look?

Sex sells — if anyone can figure out what sexy means in 2026. Robert Williams tracks the search for a new silhouette at Kering’s Gucci, LVMH’s Dior and more.

Estée Lauder’s Surprise Acquisition, Explained

The American cosmetic giant’s buyout of Ayurvedic beauty line Forest Essentials came as a surprise. By picking an under-the-radar brand it knows well, the company can show that it’s still in the M&A game without needing to outbid rivals.

VIEW MORE

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.