Gap Inc. reported strong third-quarter fiscal 2024 results, with net sales reaching $3.8 billion, a 2% increase year-over-year, and earnings per share (EPS) of $0.72, surpassing analyst expectations of $0.58. Comparable sales grew by 1%, although this was below the anticipated 2.1%. The apparel retailer raised its full-year outlook, projecting a sales growth of 1.5% to 2% for the fiscal year, driven by a positive start to the holiday shopping season. The company noted that all its brands are gaining market share, with online sales growing by 7%, contributing to 40% of total net sales. Following the announcement, Gap's stock surged approximately 21.4% in pre-market trading, reflecting investor confidence in the company's turnaround efforts and holiday performance. Gross margin improved to 42.7%, up 140 basis points from the previous year, attributed to better inventory management and reduced operational costs. CEO Richard Dickson expressed optimism about the holiday season, stating it is 'off to a strong start.'