Home / Knowledge / News / Apparel/Garments / Gap FY'13 net sales up 5% on constant currency basis
Gap FY'13 net sales up 5% on constant currency basis
28
Feb '14
Gap Inc. reported fourth quarter and fiscal year 2013 results and provided guidance for fiscal year 2014. Delivering another consecutive year of double-digit earnings per share growth, the company increased earnings per share 18 percent to $2.74 on a diluted basis for the 52 weeks ended February 1, 2014 compared with $2.33 for the 53 weeks ended February 2, 2013. 
 
Full Year Earnings Per Share of $2.74, Representing an 18 Percent Increase over Last Year’s 49 Percent Growth 
 
Highlights: 
-Fiscal Year 2013 Net Sales Grew to $16.15 Billion; Up 5 Percent on a Constant Currency Basis 
-Comparable Sales Up 2 Percent for Fiscal Year 2013 
-Expanded Full Year Fiscal 2013 Operating Margin by 90 Basis Points to 13.3 Percent 
-Distributed $1.30 Billion to Shareholders in Fiscal Year 2013 through Share Repurchases and Dividends
 
“We are pleased to deliver another year of profitable growth for our shareholders,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “Engaging customers across our multi-channel portfolio of brands positions us well on our path to winning in the global marketplace.” 
 
Additional Financial and Business Highlights 
-Demonstrating the company’s focus on creating a competitive advantage through innovative omni-channel capabilities, online net sales increased 21 percent to $2.26 billion for fiscal year 
2013. 
 
-In fiscal year 2013, the company expanded its Gap store base in mainland China, opening 34 stores, for a total of 81 stores, inclusive of Gap outlet stores. The brand expects to open about 30 additional Gap stores in China during fiscal year 2014. 
 
-Continuing to grow its Old Navy brand globally, the company expects in fiscal year 2014 to debut Old Navy in China with about 5 stores and begin franchising Old Navy stores internationally, starting with the Philippines this March. In addition, Old Navy expanded its presence in Japan by opening 17 stores during fiscal year 2013 and plans to open about 25 new stores in Japan during fiscal year 2014. 
 
-Building on its success at the intersection of fashion and fitness, the company’s Athleta brand ended fiscal year 2013 with 65 Athleta stores and expects to open about 30 additional U.S. stores during fiscal year 2014. 
 
-The company continued to grow its Franchise business during fiscal year 2013 with 72 new stores, now totaling 375 stores in over 40 global markets. In fiscal year 2014, the company expects its franchise partners to open about 75 additional stores across Gap, Banana Republic and Old Navy. 
 
 
 Click here to view full results.
 

GAP

Must ReadView All

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Courtesy: Gucci/Pantone

Textiles | On 9th Dec 2016

Pantone announces greenery as colour of the year 2017

Pantone, an X-Rite company and the global authority on colour and...

Textiles | On 9th Dec 2016

Heimtextil to host 230 exhibitors from 28 countries

Close to 230 exhibitors from over 28 countries are expected to...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search