Gap (GAP) reported fiscal Q4 net income late Thursday of $0.54 per diluted share, up from $0.49 a year earlier.

Analysts polled by FactSet, on average, expected $0.38.

Net sales for the quarter ended Feb. 1 were $4.15 billion, down from $4.30 billion a year earlier.

Analysts expected $4.07 billion.

For Q1, the apparel retailer is expecting net sales will be flat to slightly higher than its year-ago sales of $3.4 billion. Analysts are looking for $3.44 billion.

For 2025, the company is projecting net sales to grow 1% to 2% over its $15.1 billion in 2024 sales. Analysts expect $15.26 billion.

Gap shares were climbing almost 15% in Thursday's after-hours session.