Breaking News

European Court Orders Russia to Pay €1.87 Billion for Yukos Seizure
Tweet TWEET

Gap Inc. Announces Plans to Open First Gap Stores in Brazil

  Gap Inc. Announces Plans to Open First Gap Stores in Brazil

              Sao Paulo and Rio de Janeiro among first locations

Business Wire

SAN FRANCISCO -- December 18, 2012

Today, Gap Inc. (NYSE: GPS) announced plans for the first stand-alone Gap
stores in Brazil as part of the company’s continuing global expansion
strategy. Gap Inc. signed an agreement with Tudo Bom Comércio Ltda. for the
planned opening of the first stores in the fall of 2013.

Gap Inc. plans to expand its store base in the country over the next five
years, part of its strong platform of growth in the Brazilian retail market.

“Brazil is a critical next step in our global expansion strategy and we are
excited to introduce our store experience to customers,” said Stefan Laban,
Managing Director of Strategic Alliances, Gap Inc. “Given that Brazil is the
fifth largest country in the world and the largest Latin American economy, we
feel that this market provides us with an incredible growth opportunity.”

Previously, Gap offered its products solely through duty-free channels
throughout Brazil. The first Gap stores will open in Sao Paulo, the country’s
largest city followed by Rio de Janerio. The stores will house Gap, GapKids
and babyGap collections.

Gap Inc. has significantly expanded the international reach of its brands
since launching its first franchise operated store in 2006. Over the last six
years, Gap Inc. has substantially grown its store base and recently opened its
300^th franchise store. Gap Inc. franchise stores can be found in 40 markets
throughout Asia, Europe, Latin America, the Middle East and Australia.

The expansion into Latin America began in 2011 with Gap Inc.’s first stores
launching in Santiago, Chile. Most recently, Gap Inc. opened its first store
in Uruguay and now has a presence in five Latin American countries, including
Panama, Colombia and Mexico.

Forward-Looking Statements

This press release contains forward-looking statements within the “safe
harbor” provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than those that are purely historical are forward-looking
statements. Words such as “expect,” “anticipate,” “believe,” “estimate,”
“intend,” “plan,” “project,” and similar expressions also identify
forward-looking statements. Forward-looking statements include statements
regarding the following:

  *Expected franchise store openings and timing;
  *Global expansion strategies, including growth in Latin America;
  *Significant opportunity in Latin America and further growth in the region.

Because these forward-looking statements involve risks and uncertainties,
there are important factors that could cause the company’s actual results to
differ materially from those in the forward-looking statements. These factors
include, without limitation, the following:

  *the risk that changes in general economic conditions or consumer spending
    patterns could adversely impact the company’s results of operations;
  *the highly competitive nature of the company’s business internationally;
  *the risk that the company or its franchisees will be unsuccessful in
    gauging apparel trends and changing consumer preferences;
  *the risk that the company’s efforts to expand internationally may not be
    successful;
  *the risk that the company’s franchisees will be unable to successfully
    open, operate, and grow their franchised stores in a manner consistent
    with the company’s requirements regarding its brand identities and
    customer experience standards;
  *the risk that the company or its franchisees will be unsuccessful in
    identifying, negotiating, and securing new store locations and renewing,
    modifying or terminating leases for existing store locations effectively;
  *the risk that natural disasters, public health crises, political crises,
    or other catastrophic events could adversely affect the company’s
    operations and financial results;
  *the risk that acts or omissions by the company’s third-party vendors,
    including a failure to comply with the company’s code of vendor conduct,
    could have a negative impact on its reputation or operations;
  *the risk that the company will not be successful in defending various
    proceedings, lawsuits, disputes, claims, and audits; and
  *the risk that changes in the regulatory or administrative landscape could
    adversely affect the company’s financial condition, strategies, and
    results of operations.

Additional information regarding factors that could cause results to differ
can be found in the company’s Annual Report on Form 10-K for the fiscal year
ended January 28, 2012, as well as the company’s subsequent Quarterly Reports
on Form 10-Q.

These forward-looking statements are based on information as of December 17,
2012. The company assumes no obligation to publicly update or revise its
forward-looking statements even if experience or future changes make it clear
that any projected results expressed or implied therein will not be realized.

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 year 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. For
more information, please visit www.gapinc.com.

Contact:

Gap Inc. Media Relations
Andrea Hicklin, +1 415 427-5648
press@gap.com
or
Investor Relations
Mike Jenkins, +1 415 427-4454
Investor_relations@gap.com