SAN FRANCISCO – March 18th, 2010 – Gap Inc. (NYSE:GPS) today named Amy Curtis-McIntyre as Senior Vice President, Marketing, to lead all aspects of marketing and brand management for Old Navy. She will be responsible for developing strategies that continue the brand’s momentum, and drive deeper engagement with Old Navy’s target customer, a young mom shopping on a budget for her family and herself. Over an impressive 20-year career, Curtis-McIntyre has led efforts to establish strong consumer brands, including Hyatt Hotels and JetBlue. She will report directly to Tom Wyatt, President of Old Navy.
“At a time when the work we’re doing to serve Old Navy’s target customer is starting to pay off with recent improvements in sales and market share, I am thrilled to have Amy join our talented team,” said Tom Wyatt, President, Old Navy. “She has a great track record of successfully building distinctive consumer brands that have their own unique personality and emotionally resonate with customers.”
Curtis-McIntyre joins Old Navy from Hyatt Hotels where she served in a global role as Senior Vice President, Marketing. Among her many accomplishments, Curtis-McIntyre was a founding executive at JetBlue where she was instrumental in creating and building the brand and product positioning. In addition, Curtis-McIntyre has worked with other consumer brands including Virgin and Dunkin’ Brands.
“I’m delighted to join the team at Old Navy,” said Curtis-McIntyre. “It will be exciting to further evolve how we engage with our target customer by building on the strong integrated approach between marketing and product.”
With a clear customer focus, Old Navy is continuing to re-establish itself as a fun, value brand for families. The brand will bring fresh, creative ideas to its successful Supermodelquin advertising campaign, remodel more than quarter of its store fleet by the end of 2010 to make it easier for customers to shop, and offer quality products at consistent, compelling prices.
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 Old Navy store remodels in fiscal year 2010.
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 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 in the United States and internationally and its dependence on consumer spending patterns, which are influenced by numerous other factors; the risk that the company will be unsuccessful in identifying and negotiating new store locations and renewing leases for existing store locations effectively; the risk that comparable store sales and margins will experience fluctuations; 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 information technology 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 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; the risk that changes in the regulatory or administrative landscape could adversely affect the company’s financial condition and results of 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 January 31, 2009. Readers should also consult the company’s quarterly report on Form 10-Q for the fiscal quarter ended October 31, 2009.
These forward-looking statements are based on information as of March 18, 2010. 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 brand names. Fiscal 2009 sales were $14.2 billion. Gap Inc. operates about 3,100 stores in the United States, the United Kingdom, Canada, France, Japan and Ireland. In addition, Gap Inc. is expanding its international presence with franchise agreements in Asia, Europe, Latin America and the Middle East. For more information, please visit www.gapinc.com.
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