Gap's Shares Gain 15% on Q2 Earnings Beat & Revised View

Gap Inc. reported Q2 adjusted EPS of $0.52, beating consensus estimates despite a 2% revenue decline. The Gap brand showed strong 10% comparable sales growth, while Old Navy declined 4% and Athleta fell 12%. Gross margins improved 20 basis points, and the company raised full-year adjusted EPS guidance to $2.35-$2.45, supported by margin expansion and share repurchases.