Gap Inc is a well known fashion retailer based in the United States. The company sells its products across several markets through both online and offline channels. In 2022, the company experienced a decline in its net sales and incurred net loss worth $202 million compared to a positive net income of $256 million in the prior year. Gap’s total net sales in 2022 remained $15.616 million compared to $16,670 million in the prior year.
Net Income of Gap Inc 2005-2022
Amounts in million dollars.
| Year | Net Income ($ millions) |
| 2022 | $(202) |
| 2021 | $256 |
| 2020 | $(665) |
| 2019 | $351 |
| 2018 | $ 1,003 |
| 2017 | $ 848 |
| 2016 | $ 676 |
| 2015 | $ 920 |
| 2014 | $ 1,262 |
| 2013 | $ 1,280 |
| 2012 | $ 1,135 |
| 2011 | $ 833 |
| 2010 | $ 1,204 |
| 2009 | $ 1,102 |
| 2008 | $ 967 |
| 2007 | $ 867 |
| 2006 | $ 809 |
| 2005 | $ 1,131 |
Gap is among the well known fashion retailers based in the United States. The company opened its first store in 1969.
2022: Gap incurred net losses worth $202 million in 2022 compared to a positive net income of $256 million in the prior year. The net revenue of the company also declined by more than a billion US dollars in 2022 compared to the prior year. In 2022, the total net sales of Gap Inc amounted to $15,616 million compared to $16,670 million in 2021.
2021: Gap generated a positive net income in 2021. Its net income in 2021 reached $256 million compared to a net loss of $665 million in 2020. The net sales of GAP increased to $16,670 million in 2021 compared to $13,800 million in 2020.
Net Income of Gap Inc increased to $ 1,003 million in 2018 from $848 million in 2017.