Filing Flows › Gap (GAP) › Guidance history
Gap (GAP) guidance history: what it guided and what it reported
Gap gave guidance in 12 earnings releases on file since Nov 16, 2023. Of 2 guided periods since reported, it met or beat its own guidance once (50%). Tax rate: 1 of 2, on average -0.7 pts against the guided midpoint. Its releases raised guidance 6 times and lowered it once.
Revenue
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY24 | $15.6B (Nov 16, 2023) | — | — | — |
| Q4 FY24 | $4.2B (Nov 16, 2023) | — | — | — |
Gross margin
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY26 | 42.4% (Nov 20, 2025) | — | — | — |
Operating margin
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY26 | 6.7%–7.0% (Aug 28, 2025) → reaffirmed 6.7%–7.0% (Nov 20, 2025) | — | — | — |
Adjusted operating income
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY25 | $606M (Nov 21, 2024) | — | — | — |
Adjusted operating expenses
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY24 | $5.2B (Nov 16, 2023) | — | — | — |
| Q4 FY24 | $1.4B (Nov 16, 2023) | — | — | — |
Tax rate
Met or beat 1 of 2 periods (1 above, 0 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY26 | 26.0% (Mar 6, 2025) → reaffirmed 26.0% (May 29, 2025) → raised 27.0% (Aug 28, 2025) | 27.9% | above the range | +0.9 pts |
| FY25 | 28.0% (Mar 7, 2024) → reaffirmed 28.0% (May 30, 2024) | 25.8% | below the range | -2.2 pts |
The latest quarter
Gap, Q2 FY27: revenue $3.7B (-2% year over year), operating margin 18.5%, net earnings $501M, operating cash flow $337M. The chart follows the revenue to costs, profit and cash.
Questions
Does Gap beat its guidance?
Gap gave guidance in 12 earnings releases on file since Nov 16, 2023. Of 2 guided periods since reported, it met or beat its own guidance once (50%). Tax rate: 1 of 2, on average -0.7 pts against the guided midpoint.
How often does Gap raise guidance?
Its earnings releases raised guidance 6 times and lowered it once since Nov 16, 2023.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.