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GPS Gap

Gap Inc., a collection of purpose-led lifestyle brands, is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Janie and Jack brands. Fiscal year 2019 net sales were $16.4 billion. Gap Inc. products are available for purchase worldwide through company-operated stores, franchise stores, and e-commerce sites.

Company profile

Ticker
GPS
Exchange
Website
CEO
Sonia Syngal
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
941697231

GPS stock data

(
)

Calendar

28 May 21
17 Jun 21
30 Jan 22
Quarter (USD)
May 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Feb 19 Feb 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Gap earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Jun 21 Syngal Sonia Common Stock Sell Dispose S No Yes 31.7723 5,000 158.86K 62,953.087
4 Jun 21 Syngal Sonia Common Stock Sell Dispose S No Yes 31.7596 16,000 508.15K 67,953.087
4 Jun 21 Syngal Sonia Common Stock Option exercise Aquire M No Yes 6.28 16,000 100.48K 83,953.087
4 Jun 21 Syngal Sonia NQSO Common Stock Option exercise Dispose M No Yes 6.28 16,000 100.48K 671,522
21 May 21 Syngal Sonia Common Stock Sell Dispose S No Yes 32.8071 4,690 153.87K 67,953.087
21 May 21 Syngal Sonia Common Stock Sell Dispose S No Yes 32.788 16,000 524.61K 72,643.087
21 May 21 Syngal Sonia Common Stock Option exercise Aquire M No Yes 6.28 16,000 100.48K 88,643.087
21 May 21 Syngal Sonia NQSO Common Stock Option exercise Dispose M No Yes 6.28 16,000 100.48K 687,522
18 May 21 Sheila Peters Common Stock Sell Dispose S No Yes 37.5 4,000 150K 1,491.335
17 May 21 Breitbard Mark Common Stock Sell Dispose S No Yes 35.4366 46,904 1.66M 53,893

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

52.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 393 393
Opened positions 80 99 -19.2%
Closed positions 80 41 +95.1%
Increased positions 95 100 -5.0%
Reduced positions 155 132 +17.4%
13F shares
Current Prev Q Change
Total value 5.87B 3.96B +48.4%
Total shares 197.23M 195.97M +0.6%
Total puts 7.45M 14.09M -47.1%
Total calls 10.24M 14.04M -27.0%
Total put/call ratio 0.7 1.0 -27.5%
Largest owners
Shares Value Change
Vanguard 26.51M $789.42M +1.5%
Dodge & Cox 24.3M $723.65M -4.0%
BLK Blackrock 15.97M $475.66M +29.9%
JPM JPMorgan Chase & Co. 14.16M $421.6M +79.3%
FMR 7.56M $225.09M +13763.0%
STT State Street 6.98M $207.97M -5.9%
Arrowstreet Capital, Limited Partnership 5.68M $169.02M +94.2%
Parnassus Investments 4.97M $148.07M -18.5%
Two Sigma Advisers 4.77M $142.07M -19.8%
Scopus Asset Management 4.75M $141.46M +120.9%
Largest transactions
Shares Bought/sold Change
FMR 7.56M +7.5M +13763.0%
Coatue Management 0 -7.39M EXIT
JPM JPMorgan Chase & Co. 14.16M +6.26M +79.3%
Two Sigma Investments 2.92M -4.08M -58.3%
BLK Blackrock 15.97M +3.68M +29.9%
Holocene Advisors 0 -3M EXIT
Arrowstreet Capital, Limited Partnership 5.68M +2.75M +94.2%
Scopus Asset Management 4.75M +2.6M +120.9%
Carmignac Gestion 2.27M +2.27M NEW
Voya Investment Management 2.27M +2.19M +2725.2%

Financial report summary

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Risks
  • The novel coronavirus disease (or COVID-19) pandemic is expected to continue to have a material adverse effect on our business and results of operations.
  • We have suspended rent payments for our stores that have been closed because of the COVID-19 pandemic, which could cause the counterparties under those leases to attempt to hold us in breach of our lease obligations and terminate our leases and accelerate our future rents due thereunder if we cannot reach acceptable settlements or otherwise prevail in litigation.
  • Global economic conditions and any related impact on consumer spending patterns could adversely impact our results of operations.
  • We must successfully gauge apparel trends and changing consumer preferences to succeed.
  • We must maintain our reputation and brand image.
  • Our business is highly competitive.
  • We may engage in or seek to engage in strategic transactions, such as acquisitions and dispositions, that are subject to various risks and uncertainties, which could disrupt or adversely affect our businesses.
  • Our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate.
  • Our failure to manage key executive succession and retention and to continue to attract qualified personnel could have an adverse impact on our results of operations.
  • If we are unable to manage our inventory effectively, our gross margins could be adversely affected.
  • Our business is subject to risks associated with global sourcing and manufacturing.
  • Risks associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct, could harm our business.
  • We are subject to data and security risks, which could have an adverse effect on our results of operations and consumer confidence in our security measures.
  • Failures of, or updates or changes to, our IT systems may disrupt operations.
  • Our efforts to expand internationally may not be successful.
  • The market for real estate is competitive.
  • Our franchise business is subject to certain risks not directly within our control that could impair the value of our brands.
  • Trade matters may disrupt our supply chain.
  • Our business is exposed to the risks of foreign currency exchange rate fluctuations and our hedging strategies may not be effective in mitigating those risks.
  • We experience fluctuations in our comparable sales and margins.
  • Our results could be adversely affected by natural disasters, public health crises, political crises, negative global climate patterns, or other catastrophic events.
  • We are subject to various proceedings, lawsuits, disputes, and claims from time to time, which could adversely affect our business, financial condition, and results of operations.
  • Changes in the regulatory or administrative landscape could adversely affect our financial condition and results of operations.
  • Reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards could adversely affect our operating results and cash flows.
  • Changes in our credit profile or deterioration in market conditions may limit our access to the capital markets and adversely impact our financial position or our business initiatives.
  • Our level of indebtedness may adversely affect our ability to operate our business, remain in compliance with debt covenants, react to changes in our business or the industry in which we operate, or prevent us from making payments on our indebtedness, including the notes.
  • Despite our level of indebtedness, we may incur additional indebtedness, which could further increase the risks associated with our leverage.
  • We may not be able to generate sufficient cash to service all of our indebtedness, including the notes, and fund our working capital and capital expenditures, and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
  • Covenants in our debt agreements restrict our business and could limit our ability to implement our business plan.
  • We may not be able to repurchase the notes upon a change of control.
Management Discussion
  • See Note 2 of Notes to Condensed Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q, for net sales disaggregation.
  • Comp Sales include the results of Company-operated stores and sales through online channels. The calculation of Gap Inc. Comp Sales excludes the results of our franchise business.
  • A store is included in the Comp Sales calculations when it has been open and operated by the Company for at least one year and the selling square footage has not changed by 15 percent or more within the past year. A store is included in the Comp Sales calculations on the first day it has comparable prior year sales. Stores in which the selling square footage has changed by 15 percent or more as a result of a remodel, expansion, or reduction are excluded from the Comp Sales calculations until the first day they have comparable prior year sales.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Good
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