{
  "url": "https://struct.news/briefs/gaps-417-million-tariff-recovery-helped-double-six-month-profit",
  "title": "Gap’s $417 million tariff recovery helped double six-month profit",
  "summary": "Revenue slipped 2%, but tariff recoveries and a $313 million settlement gain pushed net income to $501 million.",
  "published_at": "2026-08-28T16:10:49.763238+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Gap, Inc. (The)",
    "ticker": "GAP",
    "cik": "1628280",
    "sector": "Consumer Cyclical",
    "industry": "Apparel Retail"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-28",
    "accession": "0001628280-26-059345",
    "url": "https://www.sec.gov/Archives/edgar/data/39911/000162828026059345/gap-20260801.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-29",
    "url": "https://www.sec.gov/Archives/edgar/data/39911/000003991125000111/gap-20250802.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 15366000000,
      "display": "$15.4B",
      "unit": "usd",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-059345",
        "filing_date": "2026-08-28"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 1.8560254540633592,
      "display": "+1.9%",
      "unit": "percent",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-059345",
        "filing_date": "2026-08-28"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": 7.256280098919693,
      "display": "+7.3%",
      "unit": "percent",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-059345",
        "filing_date": "2026-08-28"
      }
    }
  ],
  "watch_next": [
    {
      "type": "tariffs",
      "statement": "IEEPA tariff recoveries reduced cost of goods sold and supplied approximately $417 million of the six-month margin improvement.",
      "importance": "medium",
      "evidence": "Cost of goods sold decreased 5.7 percentage points as a percentage of net sales in the first half of fiscal 2026 compared with the first half of fiscal 2025, primarily driven by 5.8 percentage points, or approximately $417 million, of net IEEPA tariff recoveries.",
      "source_date": "2026-08-28"
    },
    {
      "type": "litigation",
      "statement": "A $313 million credit-card interchange fee litigation settlement gain reduced operating expenses in the six-month comparison.",
      "importance": "medium",
      "evidence": "a gain of $313 million related to a credit card interchange fee litigation settlement, net of legal fees; partially offset by a $50 million charitable contribution made concurrently with the interchange fee litigation settlement",
      "source_date": "2026-08-28"
    },
    {
      "type": "working_capital",
      "statement": "Operating cash flow increased $242 million, with inventory and a tariff refund receivable among the disclosed working-capital drivers.",
      "importance": "medium",
      "evidence": "Changes in operating assets and liabilities an increase of $117 million related to merchandise inventory primarily due to timing of receipts and higher inventory cost during the first half of fiscal 2025; partially offset by a decrease of $445 million related to other current assets and other long-term assets primarily due to a tariff refund receivable included in other current assets",
      "source_date": "2026-08-28"
    }
  ],
  "related_tickers": [
    "GAP"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}