Gap Tops Earnings Estimates, Aims to Double American Cotton Use in 2026
Gap Inc. reported first-quarter results that beat market estimates as it continued to gain market share, thanks to the popularity of its Gap and Old Navy brands. In addition, the company anticipates a slight shortfall due to tariffs, as it plans to invest more in the United States and double its vendor sourcing of American-grown cotton in 2026.
On May 29, the San Francisco-based specialty apparel company, with a portfolio of brands including Old Navy, Gap, Banana Republic, and Athleta,
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At First Bank, we're proud of our multi-generational, family-owned and St. Louis-based heritage. As a one-stop financial resource and strategic partner for businesses across various backgrounds and industries, we proudly help clients turn challenges into opportunities. In times of uncertainty, our counterparts will often focus on expense management, capital allocation, consolidation of business lines and management roles. The focus becomes on 'growth' markets, advisory fees and creation of industry-specialty groups with too few relationship managers covering vast geographic territories. Our team of experienced commercial lenders features expertise across various industries, including manufacturing, distribution, health care and wholesale sectors. With a commitment to understanding the unique challenges and opportunities within each vertical, our team strives to provide strategic, comprehensive services designed to foster growth and success. Offering a comprehensive, back-to-basics approach Bucking national trends, First Bank's go-to market strategy hasn't changed in 115 years. It's evolved, but at the end of the day, it's the same as it's always been. We offer 'back-to-basics banking,' build long-term relationships and help clients navigate uncertain times. With First Bank, you can expect to receive personalized, local service from a single point of contact from start to finish. With this comprehensive approach, we also have intelligence regarding our clients' vendors and customers. expand Possessing experience in unique, complex situations Complexity of the current economic environment is not unlike other challenges that we've faced and navigated throughout our history. As a stable, family-owned business, we have the experience to help you manage through it all. During times of uncertainty, it's wise to not put your entire banking relationship with only one provider. From our holistic advisory services to First Bank's Commercial Lending and Banking, we can expand your financial advisory team while not disrupting your main banking relationship. Together, we'll work to help you achieve your short and long-term goals. Below are some industry-specific scenarios, illustrating how we've supported clients in addressing their unique needs: 1. Distributor scenario During a national health and economic crisis, a First Bank client needed to make larger purchases from a primary vendor to maintain inventory allotment and improve margin opportunity. We understood this business needed to have temporary debt capital in order to move forward. First Bank stepped up to support this distributor with what they needed. After the crisis, the client normalized to a new, larger level of business maintaining enhanced margins. 2. Manufacturer scenario A First Bank client manufactures and supplies to an industry with few customers, multiple needs and evolving demands. First Bank understands the struggles of high fixed asset investment, changing volume and rising costs. There will always be the need to adjust mid-year when the forecast starts to deviate with the annual budget. 3. Family business scenario When a family business needs to work through the individual needs of each family member, a strategic partner can be an asset. When a First Bank client was expanding their manufacturing capacity, the owners needed to determine the future direction. First Bank stood by and continued to offer support as family owners determined their next steps. We continued to support family members and the business simultaneously. Serving clients across industries to achieve goals First Bank's relationship managers are industry agnostic and have a broad line of sight into multiple industries without having to go out of market to get industry expertise. Our experts are relationship-focused, know your business and support you through the ups and downs. By combining deep industry knowledge with a comprehensive suite of banking services, First Bank empowers our clients to navigate their unique challenges, pivot to overcome obstacles and achieve their business goals. Visit for more information on First Bank's Commercial Banking team and services. Member FDIC Possessing over 30 years of commercial and corporate banking experience, Skornia grew up working in a family-owned business. His expertise encompasses manufacturing, distribution, oil/chemical, commercial construction, technology and health care. He is a current member of Lutheran Senior Services Finance Committee and former board member of the Association of General Contractors. Skornia has a Bachelor of Science degree and an MBA from the University of Central Missouri. Contact him at or 314-277-4543.
