Earnings live: Marvell stock surges on data center strength, Gap and Costco assess tariff changes

Core Viewpoint - Gap's shares declined over 8% due to weak sales from Athleta and the impact of tariffs on financial performance [1] Financial Performance - Fourth quarter earnings were $0.45 per share, aligning with Wall Street estimates, while revenue reached $4.23 billion, slightly below the $4.24 billion estimate [1] - Same-store sales growth for the Gap brand increased by 7% year over year, whereas Athleta experienced a decline of 10% year over year [1][2] - Overall same-store sales growth for 2025 was 3%, which was below the consensus estimate of 3.47% [2] Tariff Impact - Tariffs significantly affected financial results, with a 200 basis point impact on gross and operating margins in the fourth quarter and a 120 basis point effect for the full fiscal year [3] - Gap sources nearly half of its products from Southeast Asia, making it vulnerable to tariff changes [2] Future Guidance - For the upcoming year, Gap anticipates net sales growth of approximately 2% to 3% year over year and adjusted profits between $2.20 and $2.35 [4] - The guidance assumes that President Trump's tariffs would still be in effect, but recent changes could lead to a net beneficial effect on Gap's performance [4]