Are you LinkedIn with us? That January, Pressler resigned after two disappointing holiday sales seasons and was succeeded by Robert J. So far this year, nine national retail chains have filed for bankruptcy. The development has become a magnet for millennials who are leaving downtowns for the suburbs but still want to live in a dense, walkable community.
In addition, audio of this meeting can be accessed by calling GPS or for domestic callers and for international callers. The conference passcode is A replay of the event will be available on www.
All statements other than those that are purely historical are forward-looking statements. Forward-looking statements include statements regarding the following:. These factors include, without limitation, the following:. These forward-looking statements are based on information as of June 15, 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.
For more information, please visit www. Robert succeeded his father as chairman in and also served as CEO on an interim basis following the resignation of Paul Pressler in , before being succeeded by Glenn K. Murphy up until Fisher was inspired by the sudden success of 'The Tower of Shoes' in an old Quonset Hut in a non-retail industrial area of Sacramento, California.
And knowing that even Macy's , the biggest Levi's customer, was constantly running out of the best selling Levi's sizes, and colors, Fisher asked Haas to let him copy The Tower of Shoes' business model and apply it to Levi's products.
Haas referred Fisher to Bud Robinson, his Director of Advertising, for what Haas assumed would be a quick refusal; but instead Robinson and Fisher carefully worked out a legal test plan for what was to become The Gap named by Don's wife Doris Fisher. Fisher agreed to stock only Levi's apparel in every style and size, all grouped by size, and Levi's guaranteed The Gap to be never out of stock by overnight replenishment from Levi's San Jose, California warehouse.
Fisher opened the first Gap store on Ocean Avenue in San Francisco on August 21, ; its only merchandise consisted of Levi's and LP records to attract teen customers. In , Gap opened its second store in San Jose. In , Gap established its corporate headquarters in Burlingame, California with four employees.
By , the company had over 25 locations and had expanded into the East Coast market with a store in the Echelon Mall in Voorhees, New Jersey. In , Gap began to sell private-label merchandise. In the s, Gap assumed an upscale identity and revamped its inventory under the direction of Millard Drexler. Drexler refused to sign a non-compete agreement and eventually became CEO of J.
One month after his departure, merchandise that he had ordered was responsible for a strong rebound in sales. Fisher recruited Paul Pressler as the new CEO; he was credited with closing under-performing locations and paying off debt.
However, his focus groups failed to recover the company's leadership in its market. In , Gap announced that it would "focus [its] efforts on recruiting a chief executive officer who has deep retailing and merchandising experience ideally in apparel, understands the creative process and can effectively execute strategies in large, complex environments while maintaining strong financial discipline". That January, Pressler resigned after two disappointing holiday sales seasons and was succeeded by Robert J.
Fisher on an interim basis. The executive president for marketing and merchandising Jack Calhoun became interim president of Banana Republic.
Robinson was hired as chief designer in , but was dismissed in May after sales failed to increase. However, he enjoyed commercial success in international markets. In October , Gap Inc. In January , Gap Inc announced plans to close their subsidiary Piperlime in order to focus on their core brands. In September , Gap Inc began publicizing Hill City, a men's athletic apparel brand they plan to launch in October The Gap's original trademark was a service mark for retail clothing store services.
The first use of the trademark was on August 23, , and expanded to commercial usage on October 17, A second application was filed by Gap Stores, Inc.
The first usage for shirts and clothing products was on June 25, Trademark registration was granted on December 28, On October 4, , in an effort to establish a contemporary presence, Gap introduced a new logo. It was designed with the Helvetica font and reduced the prominence of the brand's iconic blue box. After much public outcry, the company reverted to its previous "blue box" logo on October 12, after less than a week in use. Banana Republic , a small safari-themed clothing retailer, was purchased by Gap in and was rebranded as an upscale clothing retailer in the late s.
Old Navy was launched in as a value chain with a specialty flair. A fifth brand, the online clothing and accessories retailer Piperlime , was created in ; however, as of April , the brand has been retired. Intermix , a multi-brand fashion retailer founded in , was acquired by Gap Inc. The Gap originally targeted the younger generation when it opened, with its name referring to the generation gap of the time. The Gap was the first of many shops that carried only Levi's. In , Gap started making their own jeans as a way to differentiate themselves from department stores.
Gap's current marketing works to appeal to a broad demographic of customers, whereas Banana Republic presents a sophisticated image with an self expressing easygoing personality and Old Navy focuses "fun, fashion, and value" for families and younger customers. While the company has been criticized for blandness and uniformity in its selling environments, it maintains that it tailors its stores "to appeal to unique markets" by developing multiple formats and designs.
Gap now has a store in New Delhi, India which opened in May Women still make up the vast majority of carers. So we need to see more support for fathers to take time out to be with their children or care for relatives.
Linda Wong, a solicitor with law firm Leigh Day, said: The firm has been representing 17, former and current employees of Asda and 1, Sainsbury's workers in claims for equal pay. An employment tribunal found in that the Asda women, who mainly worked at check-outs or stacking shelves, could compare themselves to higher paid men working in warehouses. Asda strongly disputed the claims and is appealing. It said the demands of the jobs were different.
The gender pay gap at the BBC has also been exposed with men found to be earning an average of 9. Both figures come from the Office for National Statistics. They use different averages. The mean can be pushed up by very a small number of high values.
If Bill Gates walks into your local pub, the mean wealth there will shoot up by millions, but the median won't change much. Whether equal pay day lands on 10 November mean , 27 November median or on a different day in your area, this analysis shows that there are few places in the UK where it lands on 31 December. This included Middlesbrough and Stoke-on-Trent, which have a high proportion of people out of work due to unemployment, sickness, disability or caring duties.
However, they also included areas like Bexley, Havering and Sutton, which have low levels of unemployment. The UK ranks 20th out of countries around the world for closing the gender pay gap, but no country has absolute equality. In Iceland, which is ranked the best by the World Economic Forum, women walked out of their workplaces at According to unions, this was the time of day that women began working unpaid relative to men.
Minister of state for apprenticeships, skills and women Anne Milton said the government had introduced a legal requirement for all large employers to publish their gender pay and bonus data by April
Sep 06, · While it sheds dozens of Gap and Banana Republic locations, the company will open roughly new Old Navy and Athleta stores. Gap Inc. forecasts that Old Navy sales will surpass $10 billion, and Athleta will top $1 billion in the next few years. Jun 16, · Gap announced on Monday that it planned to close one-fourth of its stores in North America over the next few years, potentially affecting thousands of jobs, as the brand struggles to turn around a business mired in a long sales slump. Sep 06, · Gap, the parent company of all of those brands, said Wednesday that it plans to close about "underperforming" Gap and Banana Republic locations. There are currently about 2, Gap and Banana Republic stores worldwide, according to public filings, so the closures would likely impact about 10% of them.