Home / Knowledge / News / Apparel/Garments / Apparel marketer Gap initiates $500mn share repurchase
Apparel marketer Gap initiates $500mn share repurchase
23
Oct '14
US based apparel marketer – Gap Inc said its Board of Directors have approved a new $500 million share repurchase authorization for its common stock.

The new $500 million stock repurchase program follows its previous $1 billion share repurchase program, which it initiated in November 2013.

Prior to the November announcement, Gap had increased its annual dividend per share by one-third, from $0.60 to $0.80, representing the second increase in fiscal year 2013.

“Through the end of the second quarter, we’re pleased to have distributed about $800 million in cash to shareholders through dividends and share repurchases,” said Sabrina Simmons, CFO at Gap Inc.

She added, “The additional authorization to repurchase stock underscores management and the board’s continued confidence in our long-term strategy.”

In the second fiscal quarter of 2014, Gap posted earnings per share increase of 17 percent, from a year earlier quarter.

Second fiscal quarter of 2014 diluted earnings per share stood at $0.75 compared with diluted earnings per share of $0.64 in the second fiscal quarter of 2013.

Gap said the second quarter of 2014 diluted earnings per share includes a benefit of about $0.05 from a gain on the sale of a building owned, but no longer occupied by the company.

Excluding this benefit, the apparel retailers’ adjusted diluted earnings per share stood at $0.70.

Net sales for the second quarter of 2014 rose 3 percent to $3.98 billion, compared with $3.87 billion in the prior year quarter.

Gap Inc. reported fiscal year 2013 net sales of $16.1 billion and its products are sold in more than 90 countries through about 3,200 company-operated stores and 400 franchise stores. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Egypt’s textile exports increase 3% in 10 months: TEC

Textiles | On 21st Nov 2017

Egypt’s textile exports increase 3% in 10 months: TEC

Exports by Egypt’s Textile Export Council (TEC) between January and...

UKFT turns sector skills body for UK fashion, textile sector

Textiles | On 21st Nov 2017

UKFT turns sector skills body for UK fashion, textile sector

The UK Fashion & Textile Association (UKFT) recently announced at a...

Pakistan’s textile exports up 7.72% in July-Oct ’17

Textiles | On 21st Nov 2017

Pakistan’s textile exports up 7.72% in July-Oct ’17

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Sanjay Yagnik
Maa Tex Speciality

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

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Bani Batra

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

Jay Ramrakhiani
Occasions Elegance Wear

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

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search