SAN FRANCISCO – June 7, 2013 – Gap Inc. (NYSE: GPS) today announced that Glenn Murphy, chairman and chief executive officer of the company, will address investors at the 33rd Annual Piper Jaffray Consumer Conference in New York City on June 12, 2013.
A live webcast of the presentation will be accessible from www.gapinc.com (follow the Investors, Financial News and Events pages) beginning at 9:55 a.m. ET on June 12, 2013. An archive of the webcast presentation will be available for 90 days.
The conference call and webcast may contain 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 may include statements regarding:
- Revenue growth, comparable sales growth, shifting sales mix to higher-return channels, and gaining market share;
- International expansion, including Old Navy expansion, Outlet expansion, franchise expansion, and expansion in China;
- Investing in growth opportunities, including Online, Outlet, Athleta, Piperlime, and Intermix;
- Digital innovation, and omni-channel development;
- Supply chain optimization;
- Maintaining expense discipline and leveraging expenses;
- Distributing cash to shareholders, including share repurchases and dividends;
- Margin expansion, operating leverage, and growing earnings per share;
- Productivity improvements, including through optimizing North America store count, square footage, and sales per square foot;
- Disciplined inventory management;
- Strong free cash flow; and
- Improving return on invested capital.
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 in the United States and internationally;
- the risk that the company or its franchisees will be unsuccessful in gauging apparel trends and changing consumer preferences;
- the risk to the company’s business associated with global sourcing and manufacturing, including sourcing costs, events causing disruptions in product shipment, or an inability to secure sufficient manufacturing capacity;
- 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 comparable sales and margins will experience fluctuations;
- the risk that changes in the company’s credit profile or deterioration in market conditions may limit its access to the capital markets and adversely impact its financial results or business initiatives;
- the risk that trade matters could increase the cost or reduce the supply of apparel available to the company and adversely affect its business, financial condition, and results of operations;
- the risk that updates or changes to the company’s information technology (“IT”) systems may disrupt its operations;
- the risk that actual or anticipated cyber attacks, and other cybersecurity risks, may cause the company to incur increasing costs;
- 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 does not repurchase some or all of the shares it anticipates purchasing pursuant to its repurchase program;
- 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 February 2, 2013, and the company’s subsequent filings with the Securities and Exchange Commission.
Future economic and industry trends that could potentially impact net sales and profitability are difficult to predict. Forward-looking statements are based on information as of the date of the presentation. 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 retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2012 net sales were $15.7 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 300 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.