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
Sector
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
Athleta (ITM) Inc. • Athleta LLC • Athleta, Inc. • Banana Republic (Apparel), LLC • Banana Republic (ITM) Inc. • Banana Republic, LLC • Context-Based 4 Casting (C-B4) Ltd. • Context-Based 4 Casting Inc. • Corporate HQ Support Mexico • Direct Consumer Services, LLC ...
IRS number
941697231
GPS stock data
News

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Press releases
Bragar Eagel & Squire, P.C. Is Investigating Outset Medical, TrueBlue, Gap, and NeoGenomics and Encourages Investors to Contact the Firm
24 Jun 22
Athleta and Allyson Felix Champion Equity for Female Athletes through Expanded Child Care Support
21 Jun 22
Old Navy Takes Web3 Red, White, and Blue for Independence Day
21 Jun 22
Athleta expands in Canada, adding five new stores in 2022
21 Jun 22
Saysh Closes $8 Million Series A Round Led by IRIS, Athleta
16 Jun 22
Analyst ratings and price targets
Current price
Average target
$12.14
Low target
$7.00
High target
$22.00
B. Riley Securities
Maintains
$12.00
Cowen & Co.
Maintains
$12.00
UBS
Maintains
$11.00
Deutsche Bank
Maintains
$12.00
Credit Suisse
Maintains
$10.00
Wells Fargo
Maintains
$16.00
Baird
Maintains
$11.00
Citigroup
Maintains
$7.00
JP Morgan
Downgraded
$9.00
Morgan Stanley
Downgraded
$8.00
Telsey Advisory Group
Maintains
$13.00
Guggenheim
Upgraded
$22.00
Goldman Sachs
Maintains
$14.00
BMO Capital
Maintains
$13.00
Calendar
27 May 22
2 Jul 22
30 Jan 23
Financial summary
Quarter (USD) | Apr 22 | Jan 22 | Oct 21 | Jul 21 | |
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Operating income | |||||
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Net income | |||||
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Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Jan 22 | Jan 21 | Jan 20 | Feb 19 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 871M | 871M | 871M | 871M | 871M | 871M |
Cash burn (monthly) | 10.33M | 102.08M | 65.67M | (no burn) | 120.67M | (no burn) |
Cash used (since last report) | 21.69M | 214.31M | 137.86M | n/a | 253.32M | n/a |
Cash remaining | 849.31M | 656.69M | 733.14M | n/a | 617.68M | n/a |
Runway (months of cash) | 82.2 | 6.4 | 11.2 | n/a | 5.1 | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
30 Jun 22 | Fisher Robert J | Stock Units Common Stock | Grant | Acquire A | No | No | 0 | 20,631 | 0 | 38,361 |
30 Jun 22 | Fisher Robert J | Dividend Equivalent Rights Common Stock | Grant | Acquire A | No | No | 0 | 1,690.022 | 0 | 1,194.387 |
30 Jun 22 | Fisher William Sydney | Stock Units Common Stock | Grant | Acquire A | No | No | 0 | 20,631 | 0 | 47,264 |
30 Jun 22 | Fisher William Sydney | Dividend Equivalent Rights Common Stock | Grant | Acquire A | No | No | 0 | 1,690.022 | 0 | 1,194.387 |
1 Jun 22 | Martin Bob L | RSU Common Stock | Grant | Acquire A | No | No | 0 | 254,885 | 0 | 254,885 |
10 May 22 | Fisher John J | Dividend Equivalent Rights Common Stock | Grant | Acquire A | No | No | 0 | 1,027 | 0 | 1,502.014 |
10 May 22 | Montoya Jorge P | Common Stock | Payment of exercise | Dispose F | No | No | 11.94 | 2,815 | 33.61K | 76,301 |
10 May 22 | Montoya Jorge P | Common Stock | Grant | Acquire A | No | No | 0 | 28,470 | 0 | 79,116 |
10 May 22 | Montoya Jorge P | Stock Units Common Stock | Option exercise | Dispose M | No | No | 0 | 26,633 | 0 | 0 |
10 May 22 | Montoya Jorge P | Dividend Equivalent Rights Common Stock | Option exercise | Dispose M | No | No | 0 | 1,837.451 | 0 | 0 |
Institutional ownership, Q1 2022
57.1% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 348 |
Opened positions | 53 |
Closed positions | 84 |
Increased positions | 116 |
Reduced positions | 125 |
13F shares | Current |
---|---|
Total value | 2.96B |
Total shares | 209.99M |
Total puts | 10.09M |
Total calls | 5.74M |
Total put/call ratio | 1.8 |
Largest owners | Shares | Value |
---|---|---|
Dodge & Cox | 38.36M | $540.13M |
Vanguard | 25.36M | $357.11M |
JPM JPMorgan Chase & Co. | 23.81M | $335.18M |
BLK Blackrock | 18.59M | $261.81M |
STT State Street | 6.24M | $87.91M |
Citadel Advisors | 5.25M | $73.9M |
Parnassus Investments | 5.07M | $71.35M |
PZN Pzena Investment Management | 4.83M | $68.07M |
FMR | 4.39M | $61.76M |
Dimensional Fund Advisors | 4.31M | $60.65M |
Financial report summary
?Competition
Buckle • Destination Maternity • Carters • Hanesbrands • Mahwah Bergen Retail • Kontoor BrandsRisks
- The COVID-19 pandemic has and could continue to adversely affect our business and results of operations.
- Global economic conditions and any related impact on consumer spending patterns could adversely affect 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, divestitures and other dispositions, that are subject to various risks and uncertainties, which could disrupt or adversely affect our business.
- 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 adversely affect our results of operations.
- If we are unable to manage our inventory effectively, our results of operations 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 adversely affect 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.
- Our franchise and licensing businesses are 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, which could adversely affect the market price of our common stock, our credit ratings and our liquidity.
- Our business and results of operations could be adversely affected by natural disasters, public health crises, political crises, negative global climate patterns, or other catastrophic events.
- The market for real estate is competitive.
- 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.
- Failure to comply with applicable laws and regulations, and changes in the regulatory or administrative landscape, could adversely affect our business, 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 results of operations and financial condition.
- Our level of indebtedness may adversely affect our ability to operate and expand our business.
- We may not be able to generate sufficient cash to service all of our indebtedness 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 the ABL Facility may restrict our business and could limit our ability to implement our business plan.
- Changes in our credit profile or deterioration in market conditions may limit our access to the capital markets and adversely impact our business and financial condition.
Management Discussion
- Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
- We are a collection of purpose-led, lifestyle brands offering apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. We have Company-operated stores in the United States, Canada, Japan, China, Taiwan, and Mexico. Our products are available to customers online through Company-owned websites and through the use of third parties that provide logistics and fulfillment services. We also have franchise agreements with unaffiliated franchisees to operate Old Navy, Gap, Banana Republic, and Athleta throughout Asia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will operate, stores and websites that sell apparel and related products under our brand names. In addition to operating in the specialty, outlet, online, and franchise channels, we use our omni-channel capabilities to bridge the digital world and physical stores to further enhance our shopping experience for our customers. Our omni-channel services, including curbside pick-up, buy online pick-up in store, order-in-store, find-in-store, and ship-from-store, as well as enhanced mobile-enabled experiences, are tailored uniquely across our collection of brands. Most of the products sold under our brand names are designed by us and manufactured by independent sources.
- •Net sales for the first quarter of fiscal 2022 decreased 13 percent compared with the first quarter of fiscal 2021.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
|
New words:
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Removed:
account, Additionally, adversely, Aid, amendment, American, analyzed, apply, applying, ASU, attributable, break, buyout, close, Codification, column, compliance, create, December, directly, domestic, enduring, executed, exit, expedient, expired, FASB, France, grouped, Guam, Hill, Home, incurred, lifelong, minimal, payroll, permitted, practical, prioritize, prospective, recently, record, recoverability, recovery, reduced, rent, repositioning, resulted, satisfied, scope, shared, simplification, simplify, Simplifying, standard, Statement, substantial, suspended, targeted, thereof, therewith, Topic, traffic, twelve, underperforming, unveiled, utilization, work
Financial reports
Current reports
8-K
Gap Inc. Reports First Quarter Fiscal 2022 Results and Provides Updated Fiscal 2022 Outlook
26 May 22
8-K
Submission of Matters to a Vote of Security Holders
12 May 22
8-K
Gap Inc. Announces Old Navy Leadership Change
21 Apr 22
8-K
Other Events
11 Mar 22
8-K
Gap Inc. Reports Fourth Quarter and Fiscal Year 2021 Results; Provides 2022 Outlook
3 Mar 22
8-K
Gap Inc. Reports Third Quarter Results
23 Nov 21
8-K
Departure of Directors or Certain Officers
16 Nov 21
8-K
Lisa Donohue Appointed to Gap Inc. Board of Directors
9 Nov 21
8-K
Gap Inc. Announces Early Tender Results of Cash Tender Offers and Consent Solicitations for Any and All of its Senior Secured Notes
28 Sep 21
8-K
Gap Inc. Commences Cash Tender Offers and Consent Solicitations
13 Sep 21
Registration and prospectus
S-8
Registration of securities for employees
28 May 21
S-8
Registration of securities for employees
3 Jun 19
S-8
Registration of securities for employees
19 Mar 19
S-8
Registration of securities for employees
4 Jun 17
S-8 POS
Registration of securities for employees (post-effective amendment)
16 Dec 15
S-8 POS
Registration of securities for employees (post-effective amendment)
16 Dec 15
S-8
Registration of securities for employees
8 Dec 14
S-8 POS
Registration of securities for employees (post-effective amendment)
8 Dec 14
S-8 POS
Registration of securities for employees (post-effective amendment)
8 Dec 14
S-8
Registration of securities for employees
8 Dec 13
Proxies
DEFA14A
Additional proxy soliciting materials
30 Mar 22
DEFA14A
Additional proxy soliciting materials
29 Mar 21
DEFA14A
Additional proxy soliciting materials
7 Apr 20
DEFA14A
Additional proxy soliciting materials
9 Apr 19
DEF 14A
Definitive proxy
9 Apr 18
DEFA14A
Additional proxy soliciting materials
9 Apr 18
Other
SD
Conflict minerals disclosure
31 May 22
SD
Conflict minerals disclosure
28 May 21
SD
Conflict minerals disclosure
1 Jun 20
SD
Conflict minerals disclosure
31 May 19
CT ORDER
Confidential treatment order
9 Sep 18
SD
Conflict minerals disclosure
31 May 18
CT ORDER
Confidential treatment order
27 Aug 17
SD
Conflict minerals disclosure
30 May 17
CT ORDER
Confidential treatment order
14 Jun 16
SD
Conflict minerals disclosure
30 May 16
Ownership
4
GAP / WILLIAM SYDNEY FISHER ownership change
1 Jul 22
4
GAP / ROBERT J FISHER ownership change
1 Jul 22
4
GAP / BOB L MARTIN ownership change
3 Jun 22
3
GAP / Kathryn A. Hall ownership change
17 May 22
4
GAP / JOHN J FISHER ownership change
12 May 22
4
GAP / Mark Breitbard ownership change
12 May 22
4
GAP / Jorge P Montoya ownership change
12 May 22
4
GAP / JOHN J FISHER ownership change
11 May 22
SC 13G/A
GAP / JPMORGAN CHASE & CO ownership change
4 May 22
SC 13D/A
GAP / FISHER JOHN J ownership change
8 Apr 22
Transcripts
2022 Q1
Earnings call transcript
27 May 22
2021 Q4
Earnings call transcript
4 Mar 22
2021 Q3
Earnings call transcript
24 Nov 21
2021 Q2
Earnings call transcript
27 Aug 21
2021 Q1
Earnings call transcript
28 May 21
2020 Q4
Earnings call transcript
5 Mar 21
2020 Q3
Earnings call transcript
25 Nov 20
2020 Q2
Earnings call transcript
28 Aug 20
2020 Q1
Earnings call transcript
5 Jun 20
2019 Q4
Earnings call transcript
12 Mar 20
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