gap inc/the (GPS) Key Developments
The Gap, Inc. Presents at JP Morgan 2015 Mexico Opportunities Conference, Jun-24-2015 03:30 PM
Jun 20 15
The Gap, Inc. Presents at JP Morgan 2015 Mexico Opportunities Conference, Jun-24-2015 03:30 PM. Venue: St. Regis Hotel, Paseo de la Reforma 439, Colonia Cuauhtemoc, Mexico City Federal District 06500, Mexico. Speakers: Fernando Bosque, CEO.
Gap to Close 175 Specialty Stores and to Cut 250 Jobs in North America
Jun 16 15
Gap announced it is planning to close more than 175 specialty stores in North America over the next few years, in a move to improve business performance. Of the proposed store closures, over 140 will occur this fiscal year 2015. The company plans to decrease its store count and streamline its headquarter workforce, primarily in North America. The company is expected to post annualized sales loss of around $300 million associated with the store closures. The company will slash 250 jobs at its headquarters during fiscal year 2015. After reducing its store fleet size, the company will continue to operate 500 Gap specialty locations and 300 Gap outlet stores across North America. With the proposed changes, the company is expected to save around $25 million in costs annually, beginning in 2016.
Gap, Inc. Reaffirms Earnings Guidance for the Year 2015
Jun 15 15
Gap, Inc. estimated an annualized sales loss of approximately $300 million associated with the store closures. Excluding the estimated pre-tax costs of $140 million to $160 million referenced above, or approximately $0.21 to $0.24 per diluted share, the company is reaffirming its guidance for fiscal year 2015 to be in the range of $2.75 to $2.80.
Gap Inc to Close 175 Specialty Stores in North America as Part of Strategic Measures
Jun 15 15
Gap Inc. (GPS) announced strategic actions to enhance the performance of Gap brand, following an evaluation of its business and operations. Gap said it plans to right-size its specialty store fleet and streamline its headquarter workforce, primarily in North America. The company will close about 175 specialty stores in North America over the next few years, with about 140 closures occurring in fiscal 2015. The actions would drive productivity improvements and showcase the brand in the most successful locations. Also, Gap said that to speed decision making and responsiveness, it has decided to align its organization in support of its new product operating model. This will result in the reduction of the brand's headquarter workforce, primarily in North America, by about 250 roles during fiscal year 2015.
The Gap, Inc. - Analyst/Investor Day
Jun 12 15
To provide updates on corporate and brand strategies