Press release from Business Wire
Gap Inc. Chairman and CEO to Present at Investor Conference on June 8
Friday, June 03, 2011
SAN FRANCISCO (Business Wire) -- Gap Inc. (NYSE: GPS) today announced that Glenn Murphy, chairman and chief executive officer of the company, will address investors at the 31st Annual Piper Jaffray Consumer Conference in New York City on June 8, 2011.
A live webcast of the presentation will be accessible from www.gapinc.com (follow the Investors, Financial News and Events pages) beginning at 10:30 a.m. ET on June 8, 2011. An archive of the webcast presentation will also be available after the presentation.
The conference 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 include statements regarding the following:
- impacts of sourcing cost inflation, including margin impact;
- average unit costs and average unit retail prices in fiscal year 2011 and beyond;
- earnings per share for fiscal year 2011;
- pipeline changes;
- delivering consistently in North America;
- optimizing North American fleet;
- expanding Piperlime and Athleta;
- investing in long-term global initiatives, including online and international;
- capital expenditures;
- managing expenses tightly;
- future inventory levels and buying units down;
- distributing cash to shareholders; and
- future store openings, including outlet, China, Italy, franchise, Athleta, and Old Navy Japan stores.
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 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;
- the risk that the company will be unsuccessful in gauging fashion trends and changing consumer preferences;
- the risk that trade matters, sourcing costs, 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, or impact its financial results;
- the risk that the company's efforts to expand internationally may not be successful and could impair the value of its brands;
- the risk that the impacts of the March 2011 earthquake, tsunami and nuclear crisis in Japan, including reduced consumer spending, will have adverse effects on the company's business, financial position and strategies;
- the risk that the company's franchisees will be unable to successfully open, operate, and grow the company's franchised stores;
- the risk that the company will be unsuccessful in identifying, negotiating, and securing new store locations and renewing or modifying leases for existing store locations effectively;
- the risk that comparable 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 changes in the company's credit profile or deterioration in market conditions may limit its access to the capital markets;
- the risk that updates or changes to the company's information technology (“IT”) systems may disrupt its 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 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 adoption of new accounting pronouncements will impact future results;
- 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.
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 29, 2011.
These forward-looking statements are based on information as of June 8, 2011. 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 brands. Fiscal year 2010 net sales were $14.7 billion. Gap Inc. products are available for purchase in over 90 countries worldwide through about 3,100 company-operated stores, about 175 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.
Mike Jenkins, 415-427-4454 (Investor Relations)
Emily Russel, 415-427-6230 (Media Relations)