Home / Knowledge / News / Apparel/Garments / EPS zooms 49% at GAP in FY'13
EPS zooms 49% at GAP in FY'13
Mar '13
Gap Inc. reported fourth quarter and full year results for fiscal year 2012 and provided guidance for fiscal year 2013. Improved product performance and continued global expansion helped drive an 8 percent increase in net sales for the full year. The company reported earnings per share for the 53 weeks ended February 2, 2013 increased 49 percent to $2.33 on a diluted basis, compared with $1.56 for the 52 weeks ended January 28, 2012.

“Our results in 2012 were stellar in many ways, and I’m very pleased with how well our product resonated with customers,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We enter 2013 focused on leveraging our global brands to gain more market share and continuing to increase shareholder value.”

Fiscal Year 2012 Financial and Business Highlights

- In North America, Gap, banana republic, and Old Navy each delivered positive comparable sales for four consecutive quarters.

- Fiscal year 2012 gross margin increased 320 basis points to 39.4 percent; operating margin increased 250 basis points to 12.4 percent.

- Fiscal year 2012 diluted earnings per share increased 49 percent to $2.33 compared with $1.56 last year.

- The Gap Inc. Direct division delivered $1.9 billion in net sales – representing a 24 percent increase over fiscal year 2011.

- Franchise net sales grew by 17% and franchisees entered nine new countries.

-The company returned about $1.3 billion in cash to shareholders through share repurchases and dividends for the full year.

- On December 31, 2012, the company acquired Intermix, a multi-brand specialty retailer of luxury and contemporary women’s apparel and accessories, based in New York.

In addition, the company successfully executed on key real estate and expansion initiatives in fiscal year 2012:

- In North America, the company made significant progress toward optimizing its Gap and Old Navy store fleet through store closures, consolidations, and downsizing.

- The company opened 25 Athleta stores, for a total of 35, and expects to open about 30 stores in fiscal year 2013.

- Old Navy opened its first store in Japan and plans to open as many as 20 more stores in fiscal year 2013.

- The company opened net 33 Gap and outlet stores in China and expects to open an additional 35 stores in fiscal year 2013.

- Gap Inc.’s franchise partners opened net 85 Gap and Banana Republic stores, reaching a total of 312 franchise stores. The company expects its franchise partners will open as many as 75 additional franchise stores in fiscal year 2013.

The company noted that fiscal year 2012 had 53 weeks versus 52 weeks in fiscal year 2011. As a result, the company’s results for the fourth quarter of fiscal year 2012 and for the fiscal year 2012 include the additional week, while comparable sales calculations exclude the 53rd week.

Click here to read full results

Gap Inc

Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search