The Gap, Inc. Stock Price, News & Analysis

Old Navy announces a $500,000 donation to the Fifteen Percent Pledge to support Black creative entrepreneurs, marking its first collaboration in the Project WE series. The initiative features graphic tees designed by diverse artists and aims to increase visibility for marginalized creatives. The Project WE x Fifteen Percent Pledge collection will continue with new designs through 2023, featuring artists like Camila Rosa and Shanée Benjamin. The partnership emphasizes inclusivity and economic opportunities in the retail industry.

Gap Inc. (NYSE: GPS) has authorized a dividend of $0.15 per share for the third quarter of fiscal year 2022. This dividend will be paid on or after October 26, 2022 to shareholders recorded as of the close of business on October 5, 2022. The company reported net sales of $16.7 billion in fiscal year 2021 and continues to focus on purpose-led branding and enhancing shopping experiences through both digital and physical channels.

Gap Inc. (NYSE: GPS) will announce its second quarter fiscal 2022 financial results on August 25, 2022 at approximately 1:15 p.m. PT.

Following this, a live conference call summarizing the results will take place later the same day from 2:00 p.m. to 3:00 p.m. PT. Interested participants can pre-register to receive dial-in details. A live webcast will also be available, with a replay offered at investors.gapinc.com. The company reported net sales of $16.7 billion in fiscal year 2021.

Gap's Fall 2022 campaign, titled "EVERYONE BELONGS," promotes inclusivity and celebrates children's unique abilities just before the back-to-school season. Inspired by Heather Avis's book, the campaign features real kids showcasing their individuality, including children with special needs. It also introduces a digital talent show for kids, encourages social media participation with #GapKidsBelong, and pledges to donate 20,000 books to underprivileged schools. The campaign emphasizes the joy of being oneself, reinforcing Gap's commitment to diversity and acceptance.

Athleta has launched a limited-edition back-to-school collection in partnership with Simone Biles, aimed at girls aged 6-12. The collection features 15 items designed to inspire confidence and is part of Athleta's strategy to empower young girls. Since 2019, the Girls business has nearly doubled in sales, contributing significantly to Athleta's overall growth. The new collection integrates interactive experiences in gaming platforms like Roblox, enhancing customer engagement and expanding their community.

Gap Inc. announced the departure of CEO Sonia Syngal and appointed Bob Martin, the current Executive Chairman, as interim CEO. Syngal's exit follows her leadership during tumultuous times, and the board expresses gratitude for her contributions. The company also appointed Horacio Barbeito as CEO of Old Navy, effective August 1, aiming for innovation and growth. Additionally, Gap Inc. expects a decline in second-quarter net sales and a zero to slightly negative adjusted operating margin.

Athleta, a brand of Gap Inc. (NYSE: GPS), is set to open 30-40 new stores in 2022, including two new outlet locations in Chicago and Leesburg. The Chicago Premium Outlets will debut this summer, and the Leesburg Premium Outlets will follow this fall. Each store will feature a selection of Athleta's premium performance products. The company aims to enhance customer acquisition and brand awareness through these openings, further establishing its presence in North America and beyond.

Athleta and Allyson Felix are partnering with nonprofit &Mother to provide free child care at select track & field events in 2022, starting during Felix's last championship race in Oregon from June 23-26. This initiative aims to support mom athletes by addressing the challenges they face in balancing career and motherhood. The program highlights the importance of child care in sports, helping to promote gender equity. Additionally, Athleta offers Child Care Grants of $10,000 to female athletes, with over $200,000 awarded to date.

Gap Inc. has launched a new suite of credit cards in partnership with Barclays US Consumer Bank and Mastercard. This program allows existing Cardmembers to transition to new cards, offering enhanced rewards such as 5 points for every $1 spent at Gap Inc. brands and 1 point for other purchases. New Cardmembers will receive bonus points until January 2023. The program emphasizes sustainability with cards made from recycled materials. Gap Inc. aims to strengthen community outreach through its 'Do Good' initiative, allowing members to donate rewards points to social causes.