0000039911-13-000129.txt : 20130808 0000039911-13-000129.hdr.sgml : 20130808 20130808160455 ACCESSION NUMBER: 0000039911-13-000129 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130808 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130808 DATE AS OF CHANGE: 20130808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GAP INC CENTRAL INDEX KEY: 0000039911 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651] IRS NUMBER: 941697231 STATE OF INCORPORATION: DE FISCAL YEAR END: 0129 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07562 FILM NUMBER: 131021857 BUSINESS ADDRESS: STREET 1: TWO FOLSOM STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 6509524400 MAIL ADDRESS: STREET 1: TWO FOLSOM STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: GAP STORES INC DATE OF NAME CHANGE: 19850617 8-K 1 july20138-k.htm 8-K July 2013 8-K


UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
_____________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
        
Date of Report
(Date of earliest event reported)

August 8, 2013

THE GAP, INC.

(Exact name of registrant as specified in its charter)




Delaware
 
1-7562
 
94-1697231
(State of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)




Two Folsom Street
San Francisco, California
 
94105
(Address of principal executive offices)
 
(Zip Code)
(415) 427-0100
(Registrant’s telephone number,
including area code)

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ]    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ]    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))





Item 2.02.    Results of Operations and Financial Condition

On August 8, 2013, The Gap, Inc. (the “Company”) issued a press release announcing the Company's sales for the fiscal month and quarter ended August 3, 2013. A copy of this press release is attached hereto as Exhibit 99.1.

Item 9.01.    Financial Statements and Exhibits
99.1    Press Release dated August 8, 2013





SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




 
THE GAP, INC.
 
 
(Registrant)
 
 
 
 
 
 
 
 
 
Date:
August 8, 2013
 
By:
/s/ Sabrina L. Simmons
 
 
 
Sabrina L. Simmons
 
 
 
Executive Vice President and
 
 
Chief Financial Officer
 





EXHIBIT INDEX



Exhibit Number
Description
 

99.1
Press Release dated August 8, 2013



EX-99.1 2 a2013-08x08julypressrelease.htm EXHIBIT 2013-08-08JulyPressRelease
Exhibit 99.1



GAP INC. REPORTS SECOND QUARTER AND JULY SALES RESULTS

Guides to Second Quarter Earnings per Share Range of $0.62 to $0.64

SAN FRANCISCO – August 8, 2013 – Gap Inc. (NYSE: GPS) today reported that net sales for the second quarter of fiscal year 2013 increased 8 percent compared with the second quarter of fiscal year 2012, and that July 2013 net sales increased 5 percent compared with last year.

“We are pleased with our second quarter performance overall, and we’re focused on continuing our momentum as we move into the second half of the year,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.

Net sales for the second quarter, which ended August 3, 2013, were $3.87 billion compared with $3.58 billion for the second quarter last year. In addition, net sales for the four-week period ended August 3, 2013 were $1.12 billion compared with net sales of $1.06 billion for the four-week period ended July 28, 2012.

Due to the 53rd week in fiscal year 2012, comparable sales for July 2013 and the second quarter of fiscal year 2013, respectively, are compared to the four-week and 13-week periods ended August 4, 2012. On this basis, Gap Inc.’s comparable sales for July 2013 were up 1 percent compared with a 10 percent increase for July 2012, and the company’s second quarter comparable sales were up 5 percent compared with a 4 percent increase in the second quarter last year.

July Comparable Sales Results
Comparable sales by global brand for July 2013 were as follows:
Gap Global: positive 7 percent versus positive 10 percent last year
Banana Republic Global: negative 1 percent versus positive 8 percent last year
Old Navy Global: negative 5 percent versus positive 12 percent last year

Second Quarter Comparable Sales Results
Comparable sales by global brand for the second quarter of fiscal year 2013 were as follows:
Gap Global: positive 6 percent versus positive 3 percent last year
Banana Republic Global: negative 1 percent versus positive 6 percent last year
Old Navy Global: positive 6 percent versus positive 3 percent last year

Second Quarter Guidance
The company expects diluted earnings per share for the second quarter of fiscal year 2013 to be in the range of $0.62 to $0.64. This compares to diluted earnings per share for the second quarter of fiscal year 2012 of $0.49.

Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:00 p.m. Pacific Time on August 8, 2013 and available for replay until 1:00 p.m. Pacific Time on August 16, 2013.

Second Quarter Earnings
Gap Inc. will release its second quarter earnings results via press release on August 22, 2013 at 1:00 p.m. Pacific Time. In addition, the company will host a summary of Gap Inc.’s second quarter results during a live conference call and webcast on August 22, 2013 at approximately 2:00 p.m. Pacific Time. The conference call can be accessed by calling 1-855-5000-GPS or 1-855-500-0477 (participant passcode: 7045156). International callers may dial 913-643-0954. The webcast can be accessed at www.gapinc.com.



    


August Sales
The company will report August sales on September 5, 2013.

Forward-Looking Statements
This press release and the related sales recording 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 include statements regarding the following:
earnings per share for the second quarter of fiscal year 2013.

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 additional information may arise during the company’s close process or as a result of subsequent events that would require the company to make adjustments to the financial information.

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, as well as the company’s subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are based on information as of August 8, 2013. 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.

Investor Relations Contact:
David Davick
(415) 427-2164
Investor_relations@gap.com
 
Media Relations Contact:
Kari Shellhorn
(415) 427-1805
press@gap.com