Gap Inc. operates as a global specialty retailer with a portfolio that includes Old Navy, Gap, Banana Republic and Athleta. Company news commonly centers on quarterly results, comparable sales, gross margin trends, dividends and corporate actions, alongside brand-level marketing and product initiatives in denim, casual apparel, activewear, accessories and lifestyle retail.
Brand updates include Old Navy seasonal campaigns, Gap denim and essentials campaigns, Athleta community and performance activewear programs, and Banana Republic store and lifestyle concepts. Gap Inc. also disclosed a completed ticker-symbol change from GPS to GAP for its New York Stock Exchange-listed common shares.
Gap Inc. (NYSE: GPS) announced a 25% increase in its annual dividend per share, raising it to $0.60 for fiscal year 2022, up from $0.48. The company declared a first quarter dividend of $0.15 per share, payable on or after April 27, 2022 to shareholders on record by April 6, 2022. This reflects the company's strong performance and commitment to providing income to shareholders.
Gap Inc. (NYSE: GPS) will release its fourth quarter 2021 earnings results via press release on March 3, 2022, at 1:15 p.m. Pacific Time. A conference call summarizing the results will follow at 2:00 p.m. and last until 3:00 p.m. Pacific Time. Investors can join the call using the 'Click to Join' link, which activates 15 minutes before the start, or call 1-855-5000-GPS. The webcast is available at investors.gapinc.com. In 2020, Gap Inc. achieved net sales of $13.8 billion.
Athleta has announced a new partnership with Alicia Keys to enhance women's well-being through co-created products and community initiatives. Keys will serve as a mentor in Athleta's Power of She Fund, which supports BIPOC communities. The first product collection inspired by Keys will debut on March 8, coinciding with International Women’s Day, featuring sizes XXS-3X. Athleta aims to achieve $2B in net sales in 2023, leveraging this partnership alongside its new digital community, AthletaWell.
Gap Inc. (NYSE: GPS) reported a third-quarter fiscal 2021 loss per share of $0.40, while adjusted earnings per share were $0.27. Net sales reached $3.9 billion, down 1% from 2019, impacted by supply chain issues. Comparable sales rose 5%, with online sales surging 48% compared to 2019. The gross margin improved to 42.1%, the highest in a decade. The company revised its 2021 guidance, projecting full-year diluted earnings per share between $0.45 and $0.60. Supply chain disruptions are estimated to have caused a $550-$650 million loss in sales, affecting overall performance.
Gap Inc. (NYSE: GPS) has announced a dividend of $0.12 per share for the fourth quarter of fiscal year 2021, payable on or after January 26, 2022. Shareholders of record by January 5, 2022 will receive this payment. Gap Inc., the largest American specialty apparel company, reported net sales of $13.8 billion in fiscal year 2020. The company operates various brands and focuses on enhancing the shopping experience through its omni-channel capabilities.
Gap Inc. (NYSE: GPS) announced the election of Lisa Donohue to its Board of Directors. Donohue, with over 30 years in global consumer and digital marketing, previously served as CEO of leading marketing agencies and oversaw over $10 billion in media billings. Her appointment is expected to enhance the board's talent depth and contribute to Gap's long-term strategic goals. CEO Sonia Syngal highlighted Donohue's customer-centric leadership, which aligns with Gap's commitment to growth and social impact.
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Gap Inc. (NYSE: GPS) is set to announce its third quarter 2021 earnings results via press release on November 23, 2021, at 1:15 p.m. Pacific Time. A live conference call summarizing the results will follow from 2:00 p.m. to 3:00 p.m. Pacific Time. Investors can join the call via Click to Join. Dial-in options are available for participants as well.
Gap has launched its holiday campaign, ALL TOGETHER NOW, featuring Katy Perry to promote love, kindness, and acceptance. The campaign includes a remix of All You Need Is Love and highlights Gap’s modern American optimism. Gap will donate $1 for every stream of Katy's new single, up to $100,000, to Baby2Baby, aiding children in need. The collection features holiday apparel for families, supporting Gap's commitment to community and culture. The campaign debuted on October 25, 2021, across various media platforms.
Gap Inc. (NYSE: GPS) has acquired Context-Based 4 Casting Ltd. (CB4), a New York and Tel Aviv-based startup specializing in AI and machine learning for retail. This acquisition aims to enhance retail operations, boost sales, and improve customer experiences through advanced predictive analytics. CB4's technology is already implemented by notable retailers like Levi's and Urban Outfitters. CB4’s CEO expressed excitement about joining Gap Inc. to create a significant impact on a global scale. This acquisition is part of Gap Inc.'s broader strategy to invest in technology and innovation.