American firm Gap’s net sales grow 5% to $3.7 bn in Q2 FY24

Gap reported Q2 FY24 net sales of $3.7 billion, a 5 per cent YoY increase, driven by 8 per cent growth at Old Navy.
Store sales rose 4 per cent, with 3,568 global locations.
Online sales grew 7 per cent, making up 33 per cent of total sales.
The company posted a 42.6 per cent gross margin, $293 million operating income, and $206 million net income.