Gap Corp, which includes Gap, Banana Republic, and Old Navy divisions, suffered through two full years of declining business, between 2000 and 2002.
1. What happened to them and what have they done to try to get the business back on track?
2. What target customer are they now focusing on for their GAP stores?
(WWD archives might be a good resource)
Gap Inc. was founded in 1969 by Donald and Doris Fisher in San Francisco, California, with a single store and a handful of employees. Company employs more than 150,000 people worldwide. Gap, Inc. is a global specialty retailer selling casual apparel, accessories and personal care products for men, women and children under a variety of brand names, including Gap, Banana Republic and Old Navy. The Company's markets consist of the United States, Canada, Europe and Japan. Gap sells its products through both traditional retail stores and online stores. During the fiscal year ended January 31, 2004 (fiscal 2003), the Company-operated a total of 3,022 store locations. For the FY ended 1/29/05, revenues rose 3% to $16.27B. Net income rose 12% to $1.15B. Revenues reflect 130 new store openings and higher sales per average square foot. Net income also reflects improved gross margins and lower average debt levels.
GAP stores offer a shopper friendly environment with an assortment ...
In a 652 solution, the response explains the circumstances during 2000 to 2002 including changes made to restore sales.