22 oct 2020 · Based on FY 2019 net sales for public companies headquartered in Inc (Old Navy, Gap, Banana Republic and Athleta) and all other apparel brands Annual Global Sustainability Report with SASB disclosure since 2018
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22 oct 2020 · Based on FY 2019 net sales for public companies headquartered in Inc (Old Navy, Gap, Banana Republic and Athleta) and all other apparel brands Annual Global Sustainability Report with SASB disclosure since 2018
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9 avr 2019 · This Proxy Statement and our 2018 Annual Report to Shareholders are On or about April 9, 2019, we commenced distribution of this Proxy During 2018, Old Navy and Athleta continued to grow market share, Banana
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[PDF] atiga 2019
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Gap Inc. Investor Meeting
OCTOBER 22, 2020
Gap Inc. Investor Meeting 2020
FORWARD-LOOKING STATEMENTS
This presentation 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 relating to future financial performance or potential future plans or strategies of the company and the benefits and
timing of such financial performance, plans and strategies. 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 overall global economic environment and risks
associated with the COVID-19 pandemic; the risk that the company will be unsuccessful in gauging apparel trends and changing consumer preferences; the highly competitive nature of
the company's business in the United States and internationally; the risk of changes in global economic conditions or consumer spending patterns; engaging in or seeking to engage in
strategic transactions that are subject to various risks and uncertainties; the risk of failure to maintain, enhance and protectthe company's brand image; the risk of failure to manage key
executive succession and retention and to continue to attract qualified personnel; the risk that the company's investments may not deliver the results it anticipates; the risk if the
company is unable to manage its inventory effectively; the risks associated with global sourcing and manufacturing; the risk that the company is subject to data or other security
breaches or of a failure of the company's information technology systems; the risks to the company's efforts to expand internationally; the risk that the company will be unsuccessful in
identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; the risks to the company's reputation or
operations associated with importing merchandise from foreign countries; the risk that the company's franchisees' operation of franchise stores is not directly within the company's
control; the risk that trade matters could increase the cost or reduce the supply of apparel available to the company; the risk of foreign currency exchange rate fluctuations; the risk that
comparable sales and margins will experience fluctuations; the risk of changes in the company's credit profile; the risk of changes in the regulatory or administrative landscape; the risk
of natural disasters, public health crises (similar to and including the ongoing COVID-19 pandemic), political crises, negative global climate patterns, or other catastrophic events, or
those of the company's franchisees or vendors; the risk of reductions in income and cash flow from the company's credit card arrangement related to the company's private label and
co-branded credit cards; the risk that the adoption of new accounting pronouncements will impact future results; the risk that the company does not repurchase some or all of the shares
its anticipates purchasing pursuant to its repurchase program; and the risk that the company will not be successful in defendingvarious proceedings, lawsuits, disputes, and claims.
Additional information regarding factors that could cause results to differ can be found in The Gap, Inc.'s Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission on June 9, 2020, as well as the company's subsequent filings with the Securities and Exchange Commission. The companyassumes 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 orimplied therein will not be realized.
2Sonia Syngal
CHIEF EXECUTIVE OFFICER
We grow purpose-led, billion-dollar
brands that shape people's way of life.We have omni-strength inNorth America
and are partnering to amplify our reach. 4Democracy
of StyleModern AmericanOptimismWork for a
Better RepublicPower of She
FY19 Net Sales
$8B$5B$2B$1BFY19 E
-CommercePenetration
(1)23%25%24%44%Known Active Customers
(2)45M23M11M3M
We Grow Purpose-Led, Billion-Dollar Lifestyle BrandsTHE POWER OF OUR BRANDS
(1) E commerce penetration is online net sales as a percentage of total net sales (2) R12 active global customer base as of February 2020 5We have significant
opportunity to leverage our strengths to gain share 321Retail Disruption
Shift in Discretionary Spend
Economic Outlook
6Delivering What Matters Most
to Customers in a Disrupted Market 8%CAGR growth in Active + Fleece
between 2017 -2019 (1)HOW CUSTOMERS ARE DRESSING
Shift to HyperCasualization
>60% of consumers expect sustained increased usage of omni services (2)HOW CUSTOMERS ARE SHOPPING
Seamless Omni Service
50%Growth among big, trusted brands
during the pandemic (2)HOW CUSTOMERS ARE FEELING
Importance of Purpose & Values
(1) The NPD Group / Consumer Tracking Service / U.S. Dollar Share, 12 Months ending January 2020(2) Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 6/15-6/21/2020. 2,006 consumers surveyed, sampled and weighted to match the US general population 18+ years
7Broad Customer Appeal Gives Us Room to Grow
in the $194 Billion US Apparel Market (1)Target and halo customers
segments represent ~80% of the U.S. apparel marketCustomer-Centric
Inclusive, by Design
~170M known customers globally (3)THE POWER OF OUR PORTFOLIO
This pres
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$16BMulti-Branded
Largest Apparel
Retail Company in
America
(2) `PRYLN.YVUYBRE3Y NDBNULEVRNEVYN2E YGNPBNs_1~NBYRN EHYU1VN6PaVUYLNOLYN`.QNWVPaANeNMPB a5YVNOVEUSDB3N6YV8DUYNeNS060NQPHHEVN6LEVYjN1\NfPBRL NZBGDB3N[aHFN\Y\YN
U\VN6PaVUYLNsEUR6YR0NtE YGNPBNs_N\Y1~NBYRN EHY NIPVNAa2HDUNUP5AEBDY NLYEGTaEVRYVYGNDBN`PVRLNc5YVDUENCDRLDBNRLYNEAAEVYHNEBGNEUUY PVDY NVYREDHYVNUERY3PVF
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iScaled, Advantaged
Fulfillment + Supply Chain
•Substantial unit volumesdeliver product and logistics costadvantage •Use of automation and technology for efficiency, speed and flexibility •Engineering expertise to optimize operationTHE POWER OF OUR PLATFORM
STRIP 35%
(3)MALL 32%
24%Leading
Omni Platform
Gap Inc. is ranked #2 in U.S. apparel
e-commerce sales. (1)Supported by ~3000
global store fleet that offers omni capabilities1B+ Units
produced annually (2)Leading Omni Platform and Scaled Operations
Allow Us to Win in a Changing Marketplace
STREET 8%
OUTLET CENTER 1%
U\V%?$%,.%;(&*(57('%\Y\Y
AGap Inc. has the Power to Deliver
OUR STRATEGY
ENDURING
CUSTOMER
RELATIONSHIPS
OMNI-EXPERIENCEPRODUCT LOVETEAM & VALUESBRAND POWERLEAN & ADVANTAGED
OPERATIONS
10Gap Inc. has the Power to Deliver
OUR STRATEGY
ENDURING
CUSTOMER
RELATIONSHIPS
OMNI-EXPERIENCE
PRODUCT LOVETEAM & VALUES
•Grow Old Navy to $10B •Transform Gap •Double Athleta •Reposition BananaRepublic
BRAND POWER
LEAN &
ADVANTAGED
OPERATIONS
11 •Develop best-in-class loyalty program •Scale personalization, serving content and experiences across touchpointsGap Inc. has the Power to Deliver
OUR STRATEGY
BRAND POWERENDURING CUSTOMER RELATIONSHIPS
OMNI-EXPERIENCE
PRODUCT LOVETEAM & VALUES
LEAN &
ADVANTAGED
OPERATIONS
12Gap Inc. has the Power to Deliver
OUR STRATEGY
•Frictionless, unique, and mobile-enabled experience •Double digital penetration to ~50% BRAND POWEROMNI-EXPERIENCEPRODUCT LOVETEAM & VALUESLEAN &
ADVANTAGED
OPERATIONSENDURING
CUSTOMER
RELATIONSHIPS
13Gap Inc. has the Power to Deliver
OUR STRATEGY
BRAND POWERTEAM & VALUES
LEAN &
ADVANTAGED
OPERATIONSENDURING
CUSTOMER
RELATIONSHIPS
OMNI-EXPERIENCE
•Grow share in right-to-win categories •Expand into new categories (e.g. Plus size, Gap Teen,Intimates, Personal Care)
PRODUCT LOVE
14Gap Inc. has the Power to Deliver
OUR STRATEGY
BRAND POWERTEAM & VALUES
ENDURING
CUSTOMER
RELATIONSHIPS
OMNI-EXPERIENCE
PRODUCT LOVE
•Cost Transformation through re-engineered capabilities, real estate restructure and scaled strategic partnershipsLEAN & ADVANTAGED OPERATIONS
15Gap Inc. has the Power to Deliver
OUR STRATEGY
BRAND POWER
ENDURING
CUSTOMER
RELATIONSHIPS
OMNI-EXPERIENCE
PRODUCT LOVE
LEAN &
ADVANTAGED
OPERATIONS
•Performance culture anchored in creative excellence •Industry-leading impact across People, Planet and CommunityTEAM & VALUES
16Power Plan 2023
Power of our Brands
Grow four purpose-driven, billion-dollar lifestyle brandsPower of our Portfolio
Extend our customer reach across every age,
body and occasion through our collective powerPower of our Platform
Leverage our omni capabilities and scaled
operations and extend our engineered approach to cost and growth 17Today's Agenda
Power of our Brands
Nancy Green -Head of Old Navy
Mark Breitbard-Head of Gap / Representing Banana RepublicMary Beth Laughton -Head of Athleta
-BREAK -Power of our Platform
John Strain -Head of Digital + Technology
Shawn Curran -Head of Operations
Creating Shareholder Value
Katrina O'Connell -Chief Financial Officer
Bobby Martin -Executive Chairman
-BREAK - Q&A 18Nancy Green
PRESIDENT & CEO, OLD NAVY
...and we aspire to be America's Most Loved Brand.We believe in the democracy of style.
20 Uniquely advantaged at the intersection of Value, Curated, and Fast sectorsCurated
Value FastBig fashion ideas with an
edited point of viewIncreasingly responsive supply chainAccessible pricing 21Old Navyby the Numbers
#2Apparel Brand Market Share,
#6 Apparel Retailer in the US (1) 45MKnown Active
Customers
(2) 75%Strip, Outlet and Lifestyle
Locations; Highly Profitable
Store Base
4thLargest Apparel
E-Comm Site
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(1) Net sales beginning in fiscal 2018 and beyond reflect the adoption of the new revenue recognition standard, which resulted in an increase of $280 million in net sales in the year of adoption (FY'18)
$8B brand today with a clear path to reach $10B by 2023 •Six straight years of sales growth with acceleration since 2016 •Sustain CAGR 2019-2023 to reach $10B MIS MI% %IG
HGTSHGTMHGT8HGHS9
+2.6% +5.6% +5.7%Net Sales CAGR
$10 (1) $B 23Delivering the Democracy of Style
Win With Product
Acquire and EngageCustomers
Enhance Omni-channel Experiences +
Double E-commerce
New Store Growth
24(1) Source: The NPD Group / Consumer Tracking Service / U.S. Dollar Share, 12 Months Ending July 2020
We are the #2 Apparel Brand and #6 Apparel Retailer AT 2.9% MARKET SHARE WE HAVE SIGNIFICANT SHARE OPPORTUNITY #2APPAREL BRAND
MARKET SHARE IN THE U.S.
(1) #6APPAREL RETAILER
MARKET SHARE IN THE U.S.
(1) 25#1