Gap Inc is a leading fashion retailer based in the United States and serving customers across several markets through both online and offline channels. In fiscal 2022, the company experienced a decline in its net sales and gross profit. The total gross profit of the company in 2022 declined to $5,359 million compared to $6,637 million in 2021.
Gross Profit of GAP Inc 2015-2022
Amounts are in millions.
| Year | Gross Profit (Millions) |
| 2022 | $5,359 |
| 2021 | $6,637 |
| 2020 | $4,705 |
| 2019 | $6,133 |
| 2018 | $6,322 |
| 2017 | $6,066 |
| 2016 | $5,640 |
| 2015 | $5,720 |
Gap is a leading fashion retailer based in the United States reaching customers in the US and several more corners of the globe through its omnichannel presence. The first Gap store was founded in 1969.
2022: In fiscal 2022, Gap Inc generated $5,359 in gross profit compared to $6,637 million in 2021. Its total net sales in 2022 remained $15,616 million compared to $16,670 million in 2021.
2021: GAP Inc’s gross profit for fiscal 2021 was $6.6 billion compared with $4.7 billion for fiscal 2020. Gross margin for fiscal 2021 was 39.8 percent compared with 34.1 percent for fiscal 2020. The total net revenues of the company increased to $16,670 million in 2021 compared to $13,800 million in 2020.