Gap Inc.

The Gap, Inc.
TypePublic company
San Francisco
Number of locations
  • 3,352 (Q4 2022)
Area served
Key people
RevenueDecrease US$15.616 billion(2022)[1]
Decrease US$−69 million (2022)[1]
Decrease US$−202 million (2022)[1]
Total assetsDecrease US$11.386 billion (2022)[1]
Total equityDecrease US$2.233 billion (2022)[1]
Number of employees
117,000 (2021)[1]
Footnotes / references

The Gap, Inc.,[6] commonly known as Gap Inc. or Gap (stylized as GAP), is an American worldwide clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates four primary divisions: Gap (the namesake banner), Banana Republic, Old Navy, and Athleta. Gap Inc. is the largest specialty retailer in the United States, and is 3rd in total international locations, behind Inditex Group and H&M.[7] As of early 2023, Gap employs about 95,000 people.[8]

The Fisher family remains deeply involved in the company, collectively owning much of its stock.[9] Donald Fisher served as chairman of the board until 2004, playing a role in the ouster of then-CEO Millard Drexler in 2002, and remained on the board until his death on September 27, 2009. Fisher's wife and their son, Robert J. Fisher, also serve on Gap's board of directors. Robert succeeded his father as chairman in 2004 and also served as CEO on an interim basis following the resignation of Paul Pressler in 2007, before being succeeded by Glenn K. Murphy up until 2014. From February 2015 to November 2019, Art Peck was CEO of Gap Inc.,[10] until he was replaced by Sonia Syngal in March 2020.[11] Syngal stepped down in July 2022, with Executive Chairman Bob Martin serving as interim CEO.[12]

  1. ^ a b c d e f g h "The Gap, Inc. 2022 Annual Report" (PDF). March 15, 2023.
  2. ^ "Gap Inc.'s Global Footprint" (PDF). The Gap, Inc. Archived from the original (PDF) on September 8, 2015. Retrieved March 1, 2018. As of the end of Q4 2017, Gap Inc. had 3,594 company-operated or franchised stores in operation across 46 countries.[self-published source]
  3. ^ Sciacca, Annie (May 23, 2016). "Gap decides not to keep its store workers waiting". San Francisco Business Times. Retrieved August 28, 2015.
  4. ^ "The Gap, Inc. 2020 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. March 2021.
  5. ^ "GAP company profile". Craft. Retrieved 2021-10-16.
  6. ^ Legal name as stated in the company's SEC filings (such as its 2010 10-K report). For non-regulatory purposes the company usually refers to itself as "Gap Inc."
  7. ^ "Gap And Zara Battle For Top Spot – News Markets". September 11, 2008. Retrieved August 7, 2010.
  8. ^ Fonrouge, Gabrielle (25 April 2023). "Gap will cut more than 500 workers in latest layoffs, as struggling retailer tries to reduce costs". CNBC. Retrieved 2023-04-25.
  9. ^ "Gap Explores Alternatives, Including Possible Sale: CNBC's Faber". January 8, 2007.
  10. ^ "Gap Inc.'s Glenn Murphy to Pass Reins to Digital Leader Art Peck as Next Chief Executive Officer". Archived from the original on November 15, 2017. Retrieved October 23, 2015.
  11. ^ Thomas, Lauren (March 5, 2020). "Gap taps Old Navy chief Sonia Syngal as CEO". CNBC. Retrieved August 27, 2021.
  12. ^ Kapner, Suzanne (2022-07-11). "Gap CEO Sonia Syngal Is Stepping Down". The Wall Street Journal. ISSN 0099-9660. Retrieved 2022-07-12.

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