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COMPANY OVERVIEW

Gap was founded by Don and Dorris Fisher in 1969, with the first store opening in San Francisco, California. The only items for sale at this time were men's Levi’s jeans and record tapes. A year later, the second Gap store opened in San Jose, now offering women’s Levi’s jeans as well. By Gap’s third year as a business, they had grown from one store to 25 and by 1974, the first Gap-label products appeared in store. About a decade later, Gap Inc. purchased Banana Republic and a short three years after that, Gap Kids was introduced. Old Navy was established in 1994 and was sold online for the first time in 2000. Expanding their company even further, Athleta was founded in 1998 and acquired by Gap Inc. as well as Intermix in 2013. About 6 years later, Gap also acquired Janie and Jack, a high end children’s store. Heading into more current news, Gap Inc. collaborates with Kanye West, releasing their Gap x Yeezy collection, as well as launching BODEQUALITY with a focus on offering all women’s styles, in every size, with no price difference. Gap takes pride in creating products their customers love while doing right for their customers, community, and planet.

 

Total Stores Worldwide: 2,835

Gap: 500 

Annual Sales

Looking at Gap Inc. Annual Reports From the past three years, the numbers make sense due to what is occurring in the world. In fiscal year 2019, Gap had an annual revenue of  about $16.4 billion dollars, which was good for the company. In 2020, sales decreased almost 16% from 2019 to 2020. In 2020 fiscal year sales were about $13.8 billion dollars. Finally, in 2021 Gap’s annual revenue increased again to a similar amount they earned in 2019, which was a good rebound that Gap Inc. needed after the pandemic in 2020. Gap Inc. annual revenue in 2021 was about $16.7 billion dollars, and is forecasted to increase in years to come.

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