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.
| On 25th Jun 2021
Climate change could expose half of cotton-growing regions globally...
The Bangladesh Securities and Exchange Commission (BSEC) recently...
Australian cotton production and exports are expected to move up...
Main challenges are breakdown of supply chain and shrinkage of manpower
International apparel brands
Launched first collection at onset of Covid
Strike a balance between handmade in India and 'Make in India'
Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...
Mumbai-based Forsarees is a socially driven business enterprise, working...
Trützschler, one of the world's leading textile machinery manufacturers,...
Garware Technical Fibres
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
Ventile is a registered trademark used to brand a special high-quality...
Kevin Young & Tom Lucas
Web Industries is a precision formatter of nonwoven materials used in baby ...
Label Seema Gujral
<b>Seema Gujral</b>'s designs for her eponymous label revolve around...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Ramya Rao & Kavea R Chavali
<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.