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Gap (GPS)

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
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

Calendar

27 May 22
2 Jul 22
30 Jan 23
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Jan 20 Feb 19
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

Beta Read what these cash burn values mean

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
57.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 348 379 -8.2%
Opened positions 53 80 -33.8%
Closed positions 84 80 +5.0%
Increased positions 116 130 -10.8%
Reduced positions 125 101 +23.8%
13F shares Current Prev Q Change
Total value 2.96B 3.84B -22.9%
Total shares 209.99M 217.28M -3.4%
Total puts 10.09M 12.29M -17.8%
Total calls 5.74M 5.2M +10.4%
Total put/call ratio 1.8 2.4 -25.6%
Largest owners Shares Value Change
Dodge & Cox 38.36M $540.13M +56.6%
Vanguard 25.36M $357.11M -8.4%
JPM JPMorgan Chase & Co. 23.81M $335.18M -32.2%
BLK Blackrock 18.59M $261.81M +46.8%
STT State Street 6.24M $87.91M -18.3%
Citadel Advisors 5.25M $73.9M +179.8%
Parnassus Investments 5.07M $71.35M 0.0%
PZN Pzena Investment Management 4.83M $68.07M +27.9%
FMR 4.39M $61.76M +13.5%
Dimensional Fund Advisors 4.31M $60.65M +17.5%
Largest transactions Shares Bought/sold Change
Dodge & Cox 38.36M +13.87M +56.6%
JPM JPMorgan Chase & Co. 23.81M -11.29M -32.2%
IVZ Invesco 827.94K -11.14M -93.1%
BLK Blackrock 18.59M +5.93M +46.8%
AMP Ameriprise Financial 2.77M -4.02M -59.2%
Citadel Advisors 5.25M +3.37M +179.8%
Arrowstreet Capital, Limited Partnership 2.84M +2.84M NEW
Vanguard 25.36M -2.33M -8.4%
Renaissance Technologies 0 -2.13M EXIT
Towle & Co 2.06M +1.66M +413.7%

Financial report summary

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Risks
  • 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

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Good
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