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Gap is one of the nation's leading chain of clothing stores operating under the brand names Gap, Old Navy, Athleta and Banana Republic. The company has 3,680 stores worldwide located in major malls or outdoor shopping centers.
The Gap chain offers American style clothing from jeans, khakis and shirts at affordable prices. Old Navy offers lower-priced items including denim, t-shirts, and cargo pants. Banana Republic offers a higher-priced, luxury line of clothing along with accessories and shoes.
The company also operates Piperlime, an online boutique with one store in NYC, and Athleta, a brand of athletic apparel for women. Intermix offers contemporary and luxury clothing.
Gap has products for sale in over 90 countries. The company has stores across the United States, United Kingdom, Canada, China, France, Ireland, Japan and Italy. There are over 300 franchised locations internationally. The company's headquarters are in San Francisco and product design offices are in New York City.
There were 977 Gap stores at the end of fiscal 2014 in North America, 189 in Europe and 249 in Asia. The company also operates 1,015 Old Navy stores and 610 Banana Republic locations in North America. There are also 101 Athleta stores and 41 Intermix stores in North America.
In 2014, Gap reported sales of $16.44 billion, up 2% from the previous year, and net income of $1.26 billion. E-commerce sales were $2.5 billion in 2014, up from $2.26 billion.
Gap Inc. continued to execute its long-term global growth strategy by adding 39 new stores in greater China during fiscal year 2014, including 7 new Old Navy stores and 32 new Gap stores. Additionally, the company announced plans to open about 40 new stores in greater China during fiscal year 2015.
Athleta grew its U.S. footprint to 101 stores during fiscal year 2014, and the brand plans to open about 20 additional U.S. stores during fiscal year 2015.
The company expects to open a total of 115 company-owned stores in 2015 and 35 by franchise partners.
The company announced it would close its Piperlime online boutique and one NYC store in 2015.
In June, the company said it would close 175 stores over the next few years and cut 250 jobs at its headquarters.
Doris and Don Fisher opened the first Gap store in San Francisco in 1969. Don Fisher said there was a simple idea behind the store: "to make it easier to find a pair of jeans." The average pair of jeans cost $7 in 1969. The second Gap store was opened in San Jose in 1970. The company would go public on the NYSE in 1976.
Gap would acquire Banana Republic in 1983. The first Gap store outside the U.S. opened in London in 1987. Old Navy would open its first store in Colma, CA in 1994.
Old Navy was named after a bar in Paris.
The company opened its first store in Mexico in September 2012.
On December 31, 2012, the company acquired Intermix, a multi-brand specialty retailer of luxury and contemporary women’s apparel and accessories, based in New York with 31 locations.
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Updated June 15, 2015