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Gap and American Eagle fall as earnings reveal mixed signals and brand-specific challenges
- Gap and American Eagle Outfitters fell sharply on May 29, 2026, following earnings announcements that revealed mixed results and operational challenges.
- Gap plummeted 15.40% to close at $21.15 on 32.04 million shares, while American Eagle fell 11.83% to close at $15.80.
- Gap lowered its full-year sales guidance but raised earnings guidance, while American Eagle beat revenue expectations but cautioned on near-term gross margins.
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Conclusion
On May 29, 2026, GAP fell 15.40% to $21.15 on 32.04M volume and AEO fell 11.83% to $15.80 on 18.16M volume. Gap lowered its full-year sales growth forecast to 1-2% from 2-3% but raised earnings guidance to $2.30-$2.40 from $2.20-$2.35, citing weakness in Old Navy's seasonal women's apparel. American Eagle reported record revenue of $1.2 billion (up 10% YoY) and beat earnings expectations, but cautioned on near-term gross margin pressure and flagged a 2% decline in comparable sales at its core American Eagle brand, offset by 25% growth at Aerie.