Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

You are the newly-hired CEO of a Fortune 500 company. You have been in this new role for 6 months. During that time, you have had an opportunit


You are the newly-hired CEO of a Fortune 500 company. You have been in this new role for 6 months. During that time, you have had an opportunit

Business & Finance / Management

You are the newly-hired CEO of a Fortune 500 company. You have been in this new role for 6 months. During that time, you have had an opportunity to analyze the business operations and assess the overall organizational effectiveness. It is now time for you to present your analysis and findings as it relates to core business functions and methodologies, organizational effectives, management strategies, employee engagement, business technologies, and data analysis.

Instructions

Prepare a PowerPoint presentation in which you review your findings from the analysis of the business functions and operations of one of the following organizations: Johnson & Johnson, Gap, or Proctor & Gamble). In the presentation, you will:

  • Highlight the strengths, weaknesses, opportunities, and threats of the company’s core business functions.
  • Describe how managing diversity and inclusion can impact the organization.
  • Discuss how the lack of employee engagement and building strong relationships can impact the business.
  • Review multiple information sources to develop one recommendation strategy.
  • Provide a review of one emerging business technology to aid in implementation of your recommendation.
  • Develop a leadership action plan to implement your recommendation.

Resources have been provided to assist you in evaluating your selected organization. It is expected that along with the resources provided that you incorporate information from the readings, your research, and personal experience (using APA citations where appropriate).

NOTE – Each slide should include speaker notes. Be sure to use APA citations where appropriate as well as proper grammar, spelling, punctuation, and sentence structure.

Resources

Company information for Johnson & Johnson, Gap, or Proctor & Gamble:

Hoover’s Company Records. (2019). Johnson & Johnson profile.

MarketLine. (2019). Johnson & Johnson SWOT analysis

Hoover’s Company Records. (2019). The Gap Inc. profile.

MarketLine. (2019). The Gap Inc SWOT analysis.

Hoover’s Company Records. (2019). The Procter & Gamble Company profile.

MarketLine. (2019). The Procter & Gamble Co SWOT analysis.

Company information, 10ks or annual reports, and financial documents using Mergent Online

SoB Guide

Demographics subpage

COMPANY PROFILE

The Gap Inc

REFERENCE CODE: 0988E498-82E3-4CC2-985F-7D9B38ACCD4E PUBLICATION DATE: 23 Jul 2019 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED

A Progressive Digital Media business

The Gap Inc TABLE OF CONTENTS

The Gap Inc © MarketLine

Page 2

TABLE OF CONTENTS

Company Overview ………………………………………………………………………………………….. 3 Key Facts …………………………………………………………………………………………………………. 3 SWOT Analysis ………………………………………………………………………………………………… 4

The Gap Inc Company Overview

The Gap Inc © MarketLine

Page 3

Company Overview

COMPANY OVERVIEW

The Gap Inc (Gap) is an Omni-channel retailer company. The company merchandises apparel, accessories and personal care products for men, women and children through its retail stores, franchised stores and e-commerce portals. Its products are marketed under various brands including Gap, Old Navy, Banana Republic, GapFit, GapBody, GapKids, babyGapy, Athleta and Intermix. Gap also offers various Omni-channel services including order-in-store, reserve-in-store, find-in-store, and ship-from-store. It also provides license to various third parties to sell and market these products. The company’s operations are spread across the US, Asia, the Middle East, Europe and Africa. Gap is headquartered in San Francisco, California, the US.

The company reported revenues of (US Dollars) US$16,580 million for the fiscal year ended February 2019 (FY2019), an increase of 4.6% over FY2018. In FY2019, the company’s operating margin was 8.2%, compared to an operating margin of 9.3% in FY2018. In FY2019, the company recorded a net margin of 6%, compared to a net margin of 5.3% in FY2018.

Key Facts

KEY FACTS

Head Office The Gap Inc Two Folsom Street San Francisco California San Francisco California USA

Phone 1 415 4270100 Fax Web Address www.gapinc.com Revenue / turnover (USD Mn) 16,580.0 Financial Year End February Employees 135,000 New York Stock Exchange Ticker GPS

The Gap Inc SWOT Analysis

The Gap Inc © MarketLine

Page 4

SWOT Analysis

SWOT ANALYSIS

The Gap Inc (Gap) is a specialty retailer of apparel, footwear and accessories. Global presence, inventory turnover ratio and liquidity position are the company’s major strengths, whereas dependency on merchandise vendors remains a major area for concern. Online Retail Market in US, acquisition of Janie and Jack, and spin-off and restructuring plans are likely to provide growth opportunities to the company. However, foreign exchange risks, intense competition and manpower costs in US could affect its business operations.

Strength

Global Presence Inventory Turnover Ratio Liquidity Position

Weakness

Dependence on Merchandise Vendors

Opportunity

Online Retail Market in US Acquisition of Janie and Jack Spin-off and Restructuring Plans

Threat

Foreign Exchange Risks Manpower Costs in US Intense Competition

Strength

Global Presence

Wide geographic presence helps the company to mitigate the risks associated with dependence on a single region. As of February 2019, Gap operated a total of 3,666 company-owned and franchised stores across North America, Europe and Asia. It also owns stores in the US, Canada, the UK, France, Ireland, Japan, Italy, China, Hong Kong, Taiwan, and Mexico. The company operates franchised stores in Asia, Australia, Europe, Latin America, the Middle East, and Africa. It also has franchise agreements with unaffiliated franchisees to operate Old Navy, Gap, and Banana Republic stores across Europe, Latin America, Asia, the Middle East, and Africa. In FY2019, the US accounted for 80.5% of the company’s total revenue, followed by Asia (7.4%), Canada (7.2%), Europe (3.6%) and Other Regions (1.3%).

Inventory Turnover Ratio

Improved inventory turnover ratio and lower inventory turnover days signify that the company incurs low inventory carrying costs, which help improve its operating performance. In FY2019, Gap reported an inventory turnover ratio of 4.9. Its inventory turnover ratio was higher than one of its major competitors, Guess Inc (3.7) and Abercrombie & Fitch Co. (3.3) during the same period. With the given turnover ratio, the company will take 75 days to sale its inventory as compared to 99 days by Guess Inc and 110 days by Abercrombie & Fitch Co, respectively.

The Gap Inc SWOT Analysis

The Gap Inc © MarketLine

Page 5

Liquidity Position

The company recorded a current ratio of 1.9 times in FY2019 and was higher than the Retailing industry average current ratio of 1.4. The higher than average industry current ratio indicates that the company is better-placed to payout its obligations. The company’s current ratio was significantly higher than that of its major competitors, including Nordstrom Inc (0.9), and The TJX Companies (1.5). The increase in current ratio was due to 11.7% decline in total current liabilities from US$2,461 million in FY2018 to US$2,174 million in FY2019. High liquidity is an indication of the increasing ease in funding the company’s day to day operations, which also improves its ability to capture growth opportunities in the market.

Weakness

Dependence on Merchandise Vendors

The company is highly dependent on the vendors outside the US. It purchases private label and non- private label merchandise from approximately 700 vendors having facilities in approximately 40 countries. These outside vendors require complying with certain vendor conducts and environmental, labor, health, and safety standards in domestic and international markets. About 28% of the company’s FY2019 purchases, by dollar value, were from factories in Vietnam, while 21% were from factories in China. Its two largest vendors accounted for 12% of the total sales in FY2019. Increase in product costs and taxes, import, financial and regulatory issues, or disruption of imports from Vietnam, China, or other foreign countries could affect the company’s business operations.

Opportunity

Online Retail Market in US

Gap stands to benefit from the positive outlook of online retail market in the US. The company merchandises products through various online platforms, including gap.com, oldnavy.com, bananarepublic.com, intermixonline.com, weddingtonway.com and athleta.com. According to in-house research, online retail sector in the US is forecast to grow at a CAGR of 8.5% during 2017-22 to reach US$447.4 billion from US$297.8 billion in 2017. Multi-channel retail was the leading mode of sale in the US retail sector in 2017, accounting for a 58.2% share, while online pureplay accounted for the remaining 41.8%. The US accounts for about 32% of the global online retail sector value. The retailing of electrical and electronic goods was the largest segment in the sector in 2017, which accounted for 35.7% of the total value, followed by apparel retail (22.6%), home and garden products (12.1%), food and grocery retail (11.6%), furniture and floor coverings (4.2%), and footwear (3.5%). Other category accounted for 10.3% of the value.

Acquisition of Janie and Jack

The company continues to view acquisitions as a major part of its growth strategy. These acquisitions are intended to augment growth, expand its business with new products, and enhance its geographical reach. In March 2019, the company acquired Janie and Jack, an apparel retailer with more than 100 retail stores

The Gap Inc SWOT Analysis

The Gap Inc © MarketLine

Page 6

in the US along with an e-commerce platform, from Gymboree Group Inc. The acquired entity will continue to operate as a standalone brand based in San Francisco. The deal allows Gap to expand its portfolio into the premium kids and baby business. The acquisition price was about US$35 million with an additional deal to purchase the Janie and Jack inventory at cost plus additional fees and expenses.

Spin-off and Restructuring Plans

Strategic restructuring plans help the company to increase revenue and market share. In February 2019, the company approved a plan to separate it into two independent publicly-traded companies: Old Navy and a new company yet to be named. Expected to complete in 2020, the spin-off enables each stand- alone company to maximize focus and flexibility, align investments and incentives, and optimize cost structure to deliver profitable growth. The separation allows Old Navy the flexibility, focus and control required to increase customer access by applying its strategic real estate strategy, evolving its omni- channel model and expanding product categories. The new company (to be named) with approximately US$9 billion in revenue, will include the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City. In the same month, the company announced plans to close about 230 Gap specialty stores in FY2019 and FY2020, as part of its plans to restructure the specialty fleet and strengthen the Gap brand.

Threat

Foreign Exchange Risks

Gap operates in many parts of the world and is exposed to fluctuations in foreign exchange rates. The company reports financials in the US dollar and therefore its revenue is exposed to volatility of the US dollar against other functional currencies, as it conducts business operations worldwide. Significant part of its revenue is also denominated in other currencies such as Canadian dollar, Japanese Yen, Indian rupees, Euro and British pound, among others. Major elements exposed to exchange rate risks include the company’s investments in overseas subsidiaries and affiliates and monetary assets and liabilities arising from business transactions in foreign currencies. In FY2019, the company reported a loss of US$17 million from foreign currency translation adjustments as compared to a gain of US$35 million in FY2018. To minimize risks from currency fluctuations, the company involves in foreign exchange hedging activities by entering into foreign exchange forward contracts. However, there may be no assurance that such hedging activities or measures may limit the impact of movements in exchange rates on the company’s results of operations.

Manpower Costs in US

Increasing manpower costs could have an adverse effect on the company’s margins. As of February 2019, Gap employed 135,000 part-time and full-time employees. The tight labor markets, government mandated increases in minimum wages and a higher proportion of full-time employees could result in an increase in labor costs. The federal minimum Labor costs are rising significantly in the US. The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). As of January 2019, the minimum wage rate in the US was US$7.2 per hour. The minimum wage rate in 29 states and the District of Columbia is more than the federal rate. These wages range from US$ 13.2 in District of Columbia, US$12 in Massachusetts and Washington, US$11.1 in Colorado, US$11 in Arizona, US$10.8 in Vermont,

The Gap Inc SWOT Analysis

The Gap Inc © MarketLine

Page 7

US$9.9 in Arkansas, US$8.5 in Florida, US$8.2 per hour in Illinois. The minimum wage in the District of Columbia reached US$13.3 per hour.

Intense Competition

The company operates in a highly competitive clothing retail market. Intense competition could have a material adverse impact on the company’s operations. To survive and succeed in a stiff competitive environment, it is very important for the company to distinguish its product and service offerings through a clear and unique value proposition. Its major competitors include Abercrombie & Fitch Co., American Eagle Outfitters Inc, Guess Inc, Belk Inc, and Urban Outfitters Inc. Some of the competitors of the company have greater financial, marketing and other resources, which enables them to pursue more vigorous marketing and expansion activities.

Copyright of Gap, Inc. SWOT Analysis is the property of MarketLine, a Progressive Digital Media business and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder’s express written permission. However, users may print, download, or email articles for individual use.

,

The Gap Inc Profile

2 Folsom St San Francisco, CA 94105-1205 United States Phone: 1-415-427-0100 http://www.gapinc.com

WELCOME

Hoover’s is the business information resource that delivers a unique combination of up-to-date data, broad coverage, and comprehensive information about companies, decision makers, and industries – along with powerful tools to put this information to work for your business. Hoover’s offers everything you need to successfully:

* Identify and evaluate potential sales leads, markets, and business partners * Deepen relationships with current customers * Assess competitive risks and eliminate threats * Build presentation-ready reports and customized lists of companies, industries, and decision makers

Unlike other business information providers, only Hoover’s has a full-time, in-house editorial and research team dedicated wholly to investigating, pinpointing, authenticating, and analyzing data to provide the most comprehensive, up-to-date information available on companies, industries, and executives.

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE i

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE ii

Table of Contents

Company Overview 1

Key Information 1

Key Financials 1

Company Rankings 2

Key People 2

Company Description 3

Company History 6

Industry Information 7

People 8

Employees 8

Board Members 8

Biographies 9

SONIA SYNGAL 9

BOB L MARTIN 9

SHAWN CURRAN 9

KATRINA O’CONNELL 9

JULIE GRUBER 10

Company Financials 11

Financial Summary 11

Annual Income Statement 12

Quarterly Income Statement 13

Annual Balance Sheet 14

Quarterly Balance Sheet 15

Annual Cash Flow 16

Quarterly Cash Flow 17

Financial Market Data 18

Historical Financials 19

Competition 20

Competitors List 20

Competitive Landscape 20

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 1

Company Overview

2 Folsom St San Francisco, CA 94105-1205 United States Phone: 1-415-427-0100 http://www.gapinc.com

The company, which operates more than 3,700 owned and franchised stores worldwide, built its iconic casual brand on basics for men, women, and children. Over the years, it has extended its namesake brand to include GapBody, GapKids, and babyGap, among others, and added brands such as the urban chic Banana Republic, family budgeteer Old Navy, women’s activewear chain Athleta, designer-focused Intermix, and men’s clothier Hill City. The company generates about 85% of its revenue from the US.

Key Information

DUNS Number 048626915 Location Type Parent/Headquarters Subsidiary Status No Manufacturer No Company Type Publicly Traded Company – Corporation Plant/Facility Size (Square Feet) 1,200,000.00 Owns/Rents Owns Accountant Deloitte & Touche LLP Total Employees 117,000 Employee Growth (1-3 years) -13% Employees At This Location 2,500 Year of Founding or Change in Control 1969 Primary Industry 1519: Clothing Stores Primary SIC Code 56510000: Family clothing stores Primary NAICS Code 448140: Family Clothing Stores Tradestyle Gap Latitude/Longitude 37.790663 / -122.390749

Key Financials

Fiscal Year-End January 2021 Sales (Actual) $13,800.00M 1-Year Sales Growth (15.77)% Net Income $(665,000,000.00) 1-Year Net Income Growth 0.00% Total Assets $13,769.00M Market Value $6,747.40M Prescreen Score Low Risk

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 2

Company Rankings

221 in Fortune 1000 Revenue Rank (2021) 221 in Fortune 500 (2021)

Key People

Name Title

SONIA SYNGAL Chief Executive Officer BOB L MARTIN Executive Chairman of the Board SHAWN CURRAN Executive Vice President, Chief Operating Officer KATRINA O’CONNELL Executive Vice President, Chief Financial Officer JULIE GRUBER Executive Vice President, General Counsel, Secretary,

Officer

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 3

Company Description

Gap operates in four segments: Old Navy Global, Gap Global, Banana Republic Global, and Athleta. Gap’s Old Navy brand, a lower budget version of the Gap brand, is its biggest earner at about 55% of total sales. The Gap brand itself brings in nearly 25%, followed by upmarket Banana Republic with more than 10%. Athleta, a line of activewear; Intermix, a designerwear brand; and Hill City, a provider of high-performance men’s apparel, account for the remaining revenue. The company generates more than half of its sales from its physical stores and the rest from its online stores.

Gap has seen inconsistent revenue growth over the past five years declining 11% from 2016 to 2020. The company’s net income has fluctuated in the past years and recorded a net loss in 2020. Gap’s net sales for fiscal 2020 decreased $2.6 billion, or 16%, compared with fiscal 2019. The decrease was primarily driven by mandatory store closures and stay-at-home restrictions related to COVID-19 as well as permanent store closures as a result of our strategic store rationalization initiatives for Gap Global and Banana Republic Global. 2019. Cash at the end of fiscal 2020 was $2.0 billion, an increase of $635 million from the prior year. Cash from operations contributed $237 million to the coffers, while investing activities used $510 million, mainly for property and equipment and short-term investments. Financing activities provided $895 million in 2020.

Based in California, Gap rings about 85% of its sales in the US. Canada, the retailer’s second biggest market, accounts for over 5% of sales. Asia, including Japan and China, and Europe, including the UK, Ireland, France and Italy, account for about 5% of sales. Gap has about 615 franchised stores across Asia, Europe, Latin America, the Middle East, and Africa. The company has office, distribution, and warehouse space across the US (Arizona, California, Kentucky, New Mexico, New York, Ohio, and Tennessee), as well as in Canada (Ontario), China (including Hong Kong), Japan, and the UK.

Gap is an omni-channel retailer, with sales to customers both in stores and online, through company-operated and franchise stores, company-owned websites, and third-party arrangements. Gap uses a variety of marketing and advertising mediums to drive brand health, customer acquisition, and engagement. The company leverages its rowing customer database and respond to shopping behaviors and needs with personalized content across email, site, and digital media to drive relevance and urgency. Its diversified media mix spans traditional to digital to social media. It focus on productivity of marketing investment to drive increased effectiveness. Gap communicates with consumers mainly through television and print advertising. The company has expanded its digital capabilities and the company now offers a host of omnichannel services. It spent $816 million on advertising expenses in 2020, compared to $687 million in 2019 and $650 million in 2018.

In 2020, Gap unveiled its Power Plan 2023 strategy, which reflects long-term plans to grow and strengthen the company. The company will grow its purpose-led, lifestyle brands by leveraging its omni platform and scaled operations, extending customer reach across every age, body, and occasion through the power of the portfolio, and applying its engineered approach to cost and growth. Key initiatives include growing Old Navy and Athleta, repositioning and transforming Gap and Banana Republic, growing its online business, expanding into new reach. One of Gap’s strategic priorities is to further develop an omni-channel shopping experience for customers through the integration of its store and digital shopping channels. The company’s omni- channel initiatives include cross-channel logistics optimization and exploring additional ways to develop an omni-channel shopping experience, including further digital integration and customer personalization. These initiatives involve significant investments in IT systems and significant operational changes. The company has key strategic initiatives designed to optimize its inventory levels and increase the efficiency

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 4

and responsiveness of its supply chain, including vendor fabric platforming, product demand testing, and in- season rapid response to demand. Gap is also developing additional capabilities to analyze customer behavior and demand, which it believes will allow it to better localize assortment and improve store-level allocations, such as size allocation, to further tailor the company’s assortments to customer needs and increase sell-through. Further, Gap intends to leverage technology and data science to digitize product creation, integrate with its consolidated vendor base, and further optimize its product-to-market processes and supply chain to enhance the company’s in-season responsiveness and reduce its exposure to fashion volatility.

Donald Fisher and his wife, Doris, opened a small store in 1969 near what is now San Francisco State University. The couple named their store The Gap (after “the generation gap”) and concentrated on selling Levi’s jeans. The couple opened a second store in San Jose, California, eight months later, and by the end of 1970 there were six Gap stores. The Gap went public six years later. In the beginning the Fishers catered almost exclusively to teenagers, but in the 1970s they expanded into activewear that would appeal to a larger spectrum of customers. Nevertheless, by the early 1980s The Gap — which had grown to about 500 stores — was still dependent upon its largely teenage customer base. However, it was less dependent on Levi’s (about 35% of sales), thanks to its growing stable of private labels. In a 1983 effort to revamp the company’s image, Donald hired Mickey Drexler, a former president of AnnTaylor with a spotless apparel industry track record, as The Gap’s new president. Drexler immediately overhauled the motley clothing lines to concentrate on sturdy, brightly colored cotton clothing. He also consolidated the stores’ many private clothing labels into the Gap brand. As a final touch, Drexler replaced circular clothing racks with white shelving so clothes could be neatly stacked and displayed. Also in 1983 The Gap bought Banana Republic, a unique chain of jungle-themed stores that sold safari clothing. The company expanded the chain, which enjoyed tremendous success in the mid-1980s but slumped after the novelty of the stores wore off late in the decade. In response, Drexler introduced a broader range of clothes (including higher-priced leather items) and dumped the safari lines in 1988. By 1990 Banana Republic was again profitable. The first GapKids opened in 1985 after Drexler couldn’t find clothing that he liked for his son. During the late 1980s and early 1990s, the company grew rapidly, opening its first stores in Canada and the UK. In 1990 it introduced babyGap in 25 GapKids stores, featuring miniature versions of its GapKids line. The Gap announced in 1991 it would no longer sell Levi’s (which had fallen to less than 2% of total sales) and would sell nothing but private-label items. Earnings fell in fiscal 1993 because of Gap division losses brought on by low margins and high rents. The company shuffled management positions and titles as part of a streamlining effort. It rebounded in 1994 by concentrating on improving profit margins rather than sales and by launching Old Navy Clothing Co., named 1995. Robert Fisher (the founders’ son) became the new president of the Gap division (including babyGap and GapKids) in 1997 and was charged with reversing the segment’s sales decline. The company refocused its Gap chain on basics (jeans, T-shirts, and khakis) and helped boost its performance with a high-profile advertising campaign focusing on those wares. Later in 1997 the Gap opened an online Gap store. In 1998 it began opening Torpedo Joe submarine-themed shops in select Old Navy flagships. Also in 1998 the retailer opened its first GapBody stores and introduced its only catalog (for Banana Republic). In late 1999, amid sluggish Gap division sales, Robert Fisher resigned and Drexler took over his duties. Gap misjudged fashion trends in 2000, which resulted in two years of disappointing earnings. After a 10% reduction in its workforce, the company returned to a more conservative fashion approach. The company split Gap and Gap International into two separate units in early 2002 to improve performance in the flagship brand. In September Drexler retired and was replaced by Paul Pressler, a veteran of The Walt Disney Company. Gap sold its 10 stores in Germany to Swedish retailer H&M in 2004, taking a $14 million write-down related to the sale. The next year the retailer launched Forth & Towne, its first new chain in a decade, with the new stores catering to women over the age of 35. Also, Gap dipped its toes into personal care products by signing an agreement with Inter Parfums in mid-2005. As part of the deal, Inter Parfums develops, formulates, manufactures, and packages the products, which are branded under the Gap and Banana Republic names. The Gap markets and

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 5

sells them in its GapBody stores. In January 2006 Gap entered into a 10-year non-exclusive services agreement with International Business Machines valued at $1.1 billion. As a result, IBM took over certain information technology functions from the retailer; up to 400 Gap employees joined IBM as a result of the deal. Gap Direct launched an online footwear business called Piperlime in November. CEO Pressler left the company and the board in January 2007 after four years in the top job. He was succeeded as CEO on an interim basis by Robert Fisher, previously the non-executive chairman of the retailer. In June the company shut down its Forth & Towne retail format after less than two years in business. In July Gap named a new chairman and CEO, Glenn Murphy. Murphy joined the company from Canadian drugstore chain Shoppers Drug Mart where he had retired as chairman and CEO in March. Stung by allegations in the British press of forced child labor in India being used in the manufacture of apparel for its Gap Kids chain, Gap in November announced a package of measures intended to strengthen its commitment to eradicating the exploitation of children in the garment industry. Actions include a $200,000 grant to improve working conditions and an upcoming conference dedicated to finding solutions to issues related to child labor. In October 2008 Gap acquired Athleta, a direct-marketer of women’s active wear for about $150 million. Gap purchased Athleta as part of its strategy to diversify its brand offerings. The company also opened its first Banana Republic and Gap brand factory stores in Canada in late October, extending its outlet busuiness, launched in 1994, to Canada. The retailer opened 101 new stores and shuttered 119 locations in 2008. Don Fisher, Gap co-founder, died in September 2009 at the age of 81. Also in 2009 Gap began opening stores inside Mexico’s leading department store chain, Distribuidora Liverpool, via a franchise agreement. In November 2010, Gap entered Italy with a store in Milan.

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 6

Company History

Donald Fisher and his wife, Doris, opened a small store in 1969 near what is now San Francisco State University. The couple named their store The Gap (after “the generation gap”) and concentrated on selling Levi’s jeans. The couple opened a second store in San Jose, California, eight months later, and by the end of 1970 there were six Gap stores. The Gap went public six years later. In 1983 The Gap bought Banana Republic, a unique chain of jungle-themed stores that sold safari clothing. It launched Old Navy Clothing Co. in 1994. In October 2008 Gap acquired Athleta, a direct-marketer of women’s active wear; it purchased designer- 2018. In 2019 the company announced plans to separate its fast-growing Old Navy into its own company.

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 7

Industry Information

Primary SIC Code 56510000: Family clothing stores

Primary NAICS Code 448140: Family Clothing Stores

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 8

People

Employees

Title Name Age Salary Bonus

Chief Executive Officer SONIA SYNGAL — $1.19M — Executive Chairman of the Board

BOB L MARTIN — — —

Executive Vice President, Chief Operating Officer

SHAWN CURRAN — — —

Executive Vice President, Chief Financial Officer

KATRINA O’CONNELL — — —

Executive Vice President, General Counsel, Secretary, Officer

JULIE GRUBER — $705,769.00 —

Board Members

Title Name Age

Board Member MR. ANDREW CASPERSEN — Board Member MR. ANTHONY GARDNER — Board Member BOB MARTIN — Executive Chairman of the Board BOBBY MARTIN — Director, Chairman Of The Board MR. DOUGLAS STOTLAR — Board Member MS. ELIZABETH SMITH —

HOOVERS.COM866-541-3770 • March 8, 2022 • PAGE 9

Biographies

SONIA SYNGAL

Chief Executive Officer and Director

Salary: $1.19M

Biography Ms. Sonia Syngal serves as Chief Executive Officer, D

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.

Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.



Source link

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"