The new $1 billion repurchase program for Gap Inc.’s stock follows the company’s previous $1 billion share repurchase program, which was completed during the fourth quarter of fiscal year 2012. The company repurchased approximately 17 million shares for about $539 million during the fourth quarter of fiscal year 2012 to date.
“We’re pleased to have distributed close to $1.2 billion in cash to shareholders year to date in the form of dividends and share repurchases,” said Sabrina Simmons, chief financial officer of Gap Inc. “This additional authorization to repurchase stock reflects the continued strength of Gap Inc.’s free cash flow generation in supporting both growth initiatives and cash distributions.”
About Gap Inc.
Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, banana republic, Old Navy, Piperlime, and Athleta brands.
Fiscal 2011 net sales were $14.5 billion. Gap Inc. products are available for purchase in about 90 countries worldwide through about 3,000 company-operated stores, over 300 franchise stores, and e-commerce sites.
Apparel/Garments | On 24th Feb 2017
SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...
Textiles | On 24th Feb 2017
The value of textile and garment exports made by Pakistan decreased...
Fashion | On 24th Feb 2017
Google has partnered with British fashion designer Christian Cowan to ...
Surat dominates foiling, embossing and pleating
Every market region has its own culture and trends
Fashion shows are also encouraging and highlighting sustainable fashion
About one in every 20 patients picks up an infection while hospitalised....
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
Somaiya Kala Vidya
Among the many honours showered on Frater, including Fulbright and Ford...
"You have to truly understand what your client wants, know her needs, what ...
Company | On 24th Feb 2017