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Gap Inc profit drops in first quarter
22 May '09
4 min read
Depreciation and Amortization
The company continues to expect depreciation and amortization expense for fiscal year 2009 to be about $550 million.
Capital Expenditures
First quarter capital expenditures were $63 million. The company continues to expect capital spending of about $350 million for fiscal year 2009.
Real Estate
During the first quarter of fiscal year 2009, the company opened 11 store locations and closed 11 store locations. This compares with 33 openings and 23 closings for the first quarter of the prior year.
The company ended the first quarter of fiscal year 2009 with 3,149 store locations, and net square footage decreased 0.3 percent from the end of fiscal year 2008.
The company continues to expect that it will open about 50 stores and close about 100 stores for fiscal year 2009, including repositions. The company continues to expect that net square footage will decrease about 2 percent in fiscal year 2009 over last year.
The company continues to expect depreciation and amortization expense for fiscal year 2009 to be about $550 million.
Capital Expenditures
First quarter capital expenditures were $63 million. The company continues to expect capital spending of about $350 million for fiscal year 2009.
Real Estate
During the first quarter of fiscal year 2009, the company opened 11 store locations and closed 11 store locations. This compares with 33 openings and 23 closings for the first quarter of the prior year.
The company ended the first quarter of fiscal year 2009 with 3,149 store locations, and net square footage decreased 0.3 percent from the end of fiscal year 2008.
The company continues to expect that it will open about 50 stores and close about 100 stores for fiscal year 2009, including repositions. The company continues to expect that net square footage will decrease about 2 percent in fiscal year 2009 over last year.
Gap Inc
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