Company Earns Placement on CRO List for the Fourth Year in a Row:
SAN FRANCISCO, CA. – March 6, 2009 – For the fourth year in a row, Gap Inc. (NYSE: GPS) has been distinguished as one of the “100 Best Corporate Citizens.” The company ranked first among retailers, and moved up 37 spots to place 24th overall in the most recent ranking of major U.S. companies by CRO Magazine which serves as a national indicator of best practices in the area of corporate responsibility.
“Gap Inc. has consistently pursued higher standards for their business practices – combining fiscal responsibility with responsible practices on environmental and social issues,” said Jay Whitehead, publisher and editor of CRO magazine. “In tough times, a strong reputation and a commitment to transparency, as Gap Inc. has demonstrated over the years, is an absolutely necessary part of doing business.”
The 100 Best Corporate Citizens List is based entirely on publicly-available information and ranks Russell 1000 companies on their performance in seven key areas: Environment, Climate Change, Human Rights, Philanthropy, Employee Relations, Financial and Governance.
“As one of the largest specialty retailers in the world, we pride ourselves not only on the quality of the garments we sell but also on the role we play as a responsible corporate citizen in the complex global economy,” said Dan Henkle, senior vice president of Global Responsibility for Gap Inc. “We believe it’s our responsibility to do what’s right and are honored to be recognized again as a leader among U.S. companies.”
Gap Inc. will release its fourth Social Responsibility Report, covering the years 2007-2008, in the summer of 2009.
Additional information about Gap Inc.’s commitment to social responsibility can be found online at www.gapinc.com. Details regarding the 100 Best Corporate Citizens list are available on the CRO website at www.thecro.com.
SAN FRANCISCO – February 16, 2009 - Expanding its worldwide network of franchise partners, Gap Inc. (NYSE: GPS) today announced an agreement with Elbit Trade & Retail Ltd. to bring Gap and Banana Republic stores to Israel. Under the franchise agreement with Elbit, the first Gap store in Israel will open this fall, featuring clothing for adults, kids and babies. Banana Republic, which will offer apparel for men and women, is expected to open in spring 2010.
“By signing this agreement, we’re building upon the success we’ve seen in other countries in the Middle East and Mediterranean,” said Ron Young, senior vice president of international strategic alliances for Gap Inc. “We selected Elbit Trade & Retail for their extensive experience in real estate development and their strong track record of operating franchise stores for other retailers.”
Together with its franchise partners, Gap Inc. has opened 89 Gap and 32 Banana Republic franchise stores in 14 countries around the world.
Gap franchise stores are open in Bahrain, Greece, Indonesia, Korea, Kuwait, Oman, Qatar, Malaysia, Russia, Saudi Arabia, Philippines, Singapore, Turkey and the United Arab Emirates. Banana Republic franchise stores have opened in Bahrain, Indonesia, South Korea, Kuwait, Oman, Qatar, Malaysia, Singapore, Philippines, Turkey and the United Arab Emirates. In addition, Gap Inc. has signed and announced agreements to open Gap and Banana Republic franchise stores in Bulgaria, Croatia, Cyprus, Romania, Egypt and Jordan.
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, without limitation, statements regarding the timing of store openings pursuant to the announced franchise agreement.
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 our franchisee will be unable to successfully open, operate and grow the Gap and/or Banana Republic branded apparel and accessories stores planned for Israel; the risk that the company will be unsuccessful in gauging fashion trends and changing consumer preferences; the risk that changes in general economic conditions, consumer confidence, or consumer spending patterns will have a negative impact on the company's financial performance or strategies; the highly competitive nature of the company’s business internationally and its dependence on consumer spending patterns, which are influenced by numerous other factors; the risk that the company will be unsuccessful in implementing its strategic, operating and people initiatives; the risk that adverse changes in the company’s credit ratings may have a negative impact on its financing costs, structure and access to capital in future periods; the risk that changes to the company’s IT systems may disrupt its operations; the risk that trade matters, events causing disruptions in product shipments from China and other foreign countries, or an inability to secure sufficient manufacturing capacity may disrupt the company’s supply chain or operations; the risk that the company’s efforts to expand internationally through franchising and similar arrangements may not be successful and could impair the value of its brands; 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 the company’s reputation or operations; and the risk that the company will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits; any of which could impact net sales, costs and expenses, and/or planned strategies. 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 February 2, 2008. Readers should also consult the company's quarterly report on Form 10-Q for the fiscal quarter ended November 1, 2008.
These forward-looking statements are based on information as of February 16, 2009. 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.
LONDON – 20th March 2008 - Gap Inc. (NYSE: GPS) sees the launch of Banana Republic’s first European flagship store - opening in Regent Street, the heart of London’s west end - offering a unique international destination, synonymous with quality, heritage and style. 17,000 square foot, over three floors the store will house the women’s and men’s ready-to-wear collections, accessories and personal care products. In renovating this flagship space, Banana Republic retains the building’s rich history while combining contemporary and traditional elements to evoke the brand’s essence of affordable modern luxury.
Stephen Sunnucks, President, Gap Inc. Europe comments, “With its affinity for fashion and luxury products, London has the potential to be a strong market for Banana Republic, and our customers in Europe have expressed a great deal of interest in us bringing the brand here. This is an exciting first step for Banana Republic in Europe.”
Delivering elevated design and luxurious fabrications at approachable prices, Banana Republic will present a range of great working wardrobe solutions. Elevated essentials and sophisticated seasonal collections of clothing and accessories including; handbags, shoes, jewellery, sunglasses and personal care products. Banana Republic offers covetable, uncomplicated style that works from day to night. The Regent Street store will introduce Monogram – a new collection of wardrobe builders and statement makers that represent the very best of Banana Republic. Each item is created in limited quantities using the finest fabrics, most refined techniques and meticulous attention to detail.
Banana Republic has strived to enhance and localise the shopping experience– from unique architectural elements throughout the store to superior service, and an exhibition of photography curated by Michael Hoppen. Many of the building’s original architectural details have been retained and new design elements added; the contemporary stone floor, modern light fittings, vintage furniture and the sweeping staircase offering elegant access to the first floor.
Banana Republic’s bespoke approach to customer service aims to create the ultimate shopping experience. Clients will be greeted on entering the store by the multilingual Concierge – with expert advice on everything Banana Republic has to offer with excellent product, store and local area knowledge. Trained personal stylists will also be on-hand to offer free advice, with appointments easily booked in person, online or over the phone. Each appointment will be tailored to individual needs with complimentary refreshments and alterations provided. Offering affordable luxury with impeccable service, this store is set to become ‘the’ shopping destination for Londoners and visitors alike.
Store Address:
Banana Republic
224 Regent Street
London W1B 3BR
020 7758 3550
www.bananarepublic.eu
About Banana Republic Known for its accessible luxury apparel and accessories for men and women, Banana Republic currently has about 550 stores in North America and 21 stores in Japan.