UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended February 3, 2024 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-7562 THE GAP, INC. (Exact name of registrant as specified in its charter) Delaware 94-1697231 | Title of each class | Trading Symbol | Name ...

Financial Data and Key Metrics Changes - Fourth quarter net sales increased by 1% to $4.3 billion, exceeding expectations, while comparable sales were flat [27] - Full-year 2023 net sales declined by 5% to $14.9 billion, with comparable sales down 2% [32] - Adjusted operating margin improved by 410 basis points to 4.1% for the year, with a fourth quarter operating margin of 5% [26][31] - Gross margin expanded by 530 basis points in Q4 and 380 basis points for the year, driven by effective sourcing strategies and lower commodity costs [25][30] Business Line Data and Key Metrics Changes - Old Navy's net sales were $2.3 billion, up 6% year-over-year, with comparable sales increasing by 2% [27] - Gap brand's net sales were $1 billion, down 5% year-over-year, but comparable sales increased by 4% [28] - Banana Republic's net sales declined by 2% to $567 million, with comparable sales down 4% [28] - Athleta's net sales were $419 million, down 4% year-over-year, with comparable sales down 10% [28] Market Data and Key Metrics Changes - Gap Inc. gained market share in a declining apparel market, with significant gains in women's categories for both Old Navy and Gap [9][64] - Old Navy is the number one kids and baby brand in the U.S., contributing to market share growth [64] Company Strategy and Development Direction - The company focuses on four strategic priorities: financial and operational rigor, brand reinvigoration, strengthening the platform, and energizing culture [6][21] - Brand reinvigoration efforts include enhancing product storytelling, innovative marketing, and improving omnichannel experiences [11][12] - The company aims to cultivate a digital-first organization to enhance customer experience and operational efficiency [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about financial progress and brand reinvigoration, emphasizing the importance of maintaining operational rigor [22][36] - The outlook for 2024 includes expectations for flat sales, with low-to-mid-teens operating income growth anticipated [37][40] - Management acknowledged potential headwinds from geopolitical issues and consumer dynamics but remains committed to strategic priorities [38][39] Other Important Information - The company ended the year with a cash balance of $1.9 billion and generated over $1.1 billion in free cash flow [8][35] - SG&A expenses were reduced by over $300 million year-over-year, reflecting ongoing financial discipline [26][47] Q&A Session Summary Question: How will Zac Posen's role as Chief Creative Officer impact Gap Inc.? - Management highlighted Zac Posen's expertise in enhancing storytelling across product and marketing, particularly for Old Navy [45][46] Question: Can you elaborate on the marketing initiatives and spending? - Management emphasized a more efficient approach to marketing, focusing on relevant demand creation and consistent messaging across platforms [51][52] Question: Which brand shows the best potential for sustainable positive comps? - Management indicated that both Old Navy and Gap are showing strong performance, with Old Navy gaining market share and reasserting its authority [57][58] Question: What is the long-term outlook for operating margins? - Management sees a path to operating margin expansion as sales growth resumes, supported by cost discipline and brand reinvigoration efforts [60][61]

Gap Inc. Fiscal 2023 F O UR T H QUA R T E R RE S ULT S Forward Looking Statements / Non-GAAP Financial Measures FOR W AR D L OOK I NG S T AT EMENT S This conference call and webcast contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Forward- looking statements include statements identified as such in our March 7, 2024, earnings press release. ...

Gap Inc. Reports Fourth Quarter and Fiscal 2023 Results; Provides Fiscal 2024 Outlook Exhibit 99.1 Fourth Quarter Net Sales Increased with Market Share Gains Fourth Quarter Operating Margin Expansion Reflects Continued Financial and Operational Rigor Full Year Operating Cash Flow of $1.5 Billion; Ended Fiscal Year with Cash Balance of $1.9 Billion SAN FRANCISCO – March 7, 2024 – Gap Inc. (NYSE: GPS), the largest specialty apparel company in the U.S., with a portfolio of brands including Old Navy, Gap, Banan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 28, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-7562 THE GAP, INC. (Exact name of registrant as specified in its charter) FORM 10-Q (Mark One) (State or other jurisdiction of incorporation or organ ...

The Gap, Inc. (NYSE:GPS) Q3 2023 Results Conference Call November 16, 2023 5:00 PM ET Company Participants Emily Gacka - Director, IR Richard Dickson - CEO Katrina O’Connell - CFO Conference Call Participants Adrienne Yih - Barclays Ike Boruchow - Wells Fargo Matthew Boss - JPMorgan Brooke Roach - Goldman Sachs Michael Binetti - Evercore ISI Lorraine Hutchinson - Bank of America Dana Telsey - Telsey Advisory Group Mark Altschwager - Baird Alex Straton - Morgan Stanley Operator Good afternoon, ladies and gen ...

The Gap, Inc. (NYSE:GPS) Q2 2023 Earnings Conference Call August 24, 2023 5:00 PM ET Company Participants Emily Gacka - Director of Investor Relations Bobby Martin - Executive Chair Richard Dickson - Chief Executive Officer Katrina O’Connell - Chief Financial Officer Conference Call Participants Matthew Boss - JPMorgan Paul Lejuez - Citigroup Inc. Alex Straton - Morgan Stanley Lorraine Hutchinson - Bank of America Jonna Kim - TD Cowen Bob Drbul - Guggenheim Securities Corey Tarlowe - Jefferies Adrienne Yi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-7562 THE GAP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organiza ...

The Gap, Inc. (NYSE:GPS) Q1 2023 Earnings Conference Call May 25, 2023 5:00 PM ET Company Participants Cammeron McLaughlin - Head of Investor Relations Bobby Martin - Interim Chief Executive Officer Katrina O’Connell - Chief Financial Officer Conference Call Participants Alex Straton - Morgan Stanley Matthew Boss - JPMorgan Brooke Roach - Goldman Sachs Lorraine Hutchinson - Bank of America Global Research Corey Tarlowe - Jefferies Mark Altschwager - Baird Paul Kearney - Barclays Janet Kloppenburg - JJK Rese ...

Quarterly Supplemental Materials FIRST QUARTER FISCAL 2023 -MAY 25, 2023 Non-GAAP Financial Measures These materials include the non-GAAP measures adjusted gross profit, adjusted gross margin, adjusted operating expense, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share, and free cash flow. The description and reconciliation of these measures from the most directly comparable GAAP measure is provided in these materials and/or in our earnings press releases for the per ...