Leading US specialty apparel company, Gap Inc exceeded profit expectations and met sales goals in Q2, FY25.

As per Richard Dickson, President and CEO, the owner of well-known brands like Old Navy, Gap, Banana Republic, and Athleta, Gap Inc reported net sales of $3.7 billion during the quarter, which remained flat compared to the previous year. However, the company’s comparable sales increased by 1 per cent Y-o-Y. Their online sales grew by 3 per cent and accounted for 34 per cent of total net sales, while store sales declined by 1 per cent. Gap Inc currently operates approximately 3,500 stores in over 35 countries, with 2,486 of them being company-owned.

The company’s net income increased to $216 million during the quarter despite gross margin declining by 140 basis points to 41.2 per cent.