BUSN620#3

Running head: STRATEGIC PLAN: THE GAP INC. 1

Strategic Plan: The Gap Inc.

Student Name

American Military University

Date

STRATEGIC PLAN: THE GAP INC. 2

Executive Summary

This strategic plan describes the Gap Incorporated business and its subsidiary brands. This plan

will cover the history, products, operations, vision, mission, corporate values and culture, SWOT

(strengths, weaknesses, opportunities, and threats) analysis, competitors, management team,

financial outlook, and strategies of the company. This plan will go into detail about the company

as a whole and address potential ways forward for the company to maintain growth and success.

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Table of Contents

Company Overview ........................................................................................................................ 4

Company History ............................................................................................................................ 4

Products and Services ..................................................................................................................... 7

Operations ....................................................................................................................................... 8

Vision .............................................................................................................................................. 9

Mission Statement ......................................................................................................................... 10

Corporate Values and Culture ....................................................................................................... 10

SWOT Analysis ............................................................................................................................ 11

Competition................................................................................................................................... 12

Management Team / Leadership ................................................................................................... 13

Financial Outlook.......................................................................................................................... 15

Strategies ....................................................................................................................................... 16

Conclusion .................................................................................................................................... 18

References ..................................................................................................................................... 19

Table of Figures

Figure 1 NASDAQ Gap Inc. Competitor Industry (Nasdaq, 2015). ............................................ 22

STRATEGIC PLAN: THE GAP INC. 4

Company Overview

The Gap, Incorporated, was established on 15 April in 1988. It is a global retail company

that offers apparel, accessories, and other personal care products for men, women, and children.

The overarching Gap name represents several brands: the Gap, Banana Republic, Old Navy,

Piperlime (discontinued on 30 April 2015), Athleta, and Intermix (Reuters, 2015). Popular with

multiple generations, Gap, Banana Republic, and Old Navy Stores are found in multiple malls

across the country and around the world. Intermix stores are prevalent across the United States

(US) and Canada. There are nearly 3,700 store locations world-wide with more than 150,000

employees (Gap Inc., 2015).

Company History

The first Gap store was opened in 1969 by Doris and Don Fisher. The name reflected the

gap in generations and changing desires in styles of clothing. The simplicity behind the store is

deceptive when considering how this particular store transformed retail over the decades: Don

couldn’t find a pair of jeans that fit properly (Gap Inc., 2015). Multiple events over the next

decade shaped the store into the incorporated franchise it is today.

Four years into the business, in 1973, Gap developed the jingle which would become

well-associated with the brand: Fall in the Gap. The store went public in 1976, offering 1.2

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million in stock. The store has not looked back since then. Not only did the store grow

sufficiently in the first decade to make the significant initial public offering of 1.2 million in

stock, the founders wanted to give back to the community. In 1977, the Gap Foundation was

established as the nonprofit charitable arm of the company (Gap Inc., 2015).

Gap began expanding the brand in 1983, when it acquired Banana Republic, which was a

small business with only two stores and a mail order company (Gap Inc., 2015). By bringing in

a second brand, Gap was able to target a slightly different segment of the apparel market and the

addition of a mail order capacity opened multiple doors for the growth of the company. The Gap

realized further expansion potential with the market segment of children. In 1986, the company

opened the first Gap Kids retail store in San Mateo, California. By continuing to expand the

customer base, Gap continued to grow.

Not satisfied with expansion within North America, Gap

sought to become international and, in 1986, opened the first

store in the United Kingdom, in London. Just over 15 years after

opening the first store, Doris and Don Fisher’s desire to have

pants that fit became an international company, conquering the

ocean to provide clothing to citizens in Europe. This marked the

beginning of continued international expansion for the Gap

business and marked the transition to the Gap Inc. known today. Adding to the brands of Gap

and Banana Republic, Old Navy was introduced as a Gap brand in 1994. The new brand added

yet more segments of the market to the ever growing Gap brand. Taking advantage of the

expansion of the internet and its capacity to reach customers; in 1997 Gap introduced a new way

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for shoppers to find and purchase its products: Gap Online (Gap Inc., 2015). Now even

consumers without local stores available could get Gap items delivered right to their home.

Seeking to maintain modern clothing requirements, Gap introduced a “khaki campaign”

in 1998. This campaign sought to establish the Gap brand khakis through a surge of youth

interest in the Khaki pants. Additionally, khakis were becoming accepted in the workplace as

business casual. The creative commercials designed by Gap for its khaki line of apparel

escalated sales and achieved awards for the company’s advertising campaign and success

(Sunset, 2008).

Gap expanded its environmental and social support with the release of its first Corporate

Social Responsibility Report in 2004 (Gap Inc., 2015). Having established the Gap Foundation

decades earlier, this report shows Gap’s overall consideration for the environment, both natural

and social, in all aspects of its operations.

Gap simultaneously continued international growth and brand growth over the next years.

In 2006, the Gap’s first online only store, with no physical storefronts, was opened in the

Piperlime brand. Emulating competitors such as Zappos, Piperlime offered shoes, apparel, and

accessories through the online storefront. Further expansion occurred in the brands of Gap when

Athleta was acquired in 2008. On the international front, by 2010, Gap Online was available to

more than 80 countries around the world, becoming a truly international company. In 2010, Gap

also opened its first store in China, breaking into the elusive Chinese market (Gap Inc., 2015).

In 2015, Gap Inc. is a leading national retailer with approximately 3,700 stores and

150,000 employees internationally. Stores have been recently opened in China and Italy and the

online shopping experiences is available in about 90 countries around the world (Gap Inc.,

2015). Starting with a single storefront in 1969, Gap has transformed the apparel industry and

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expanded exponentially. Gap also continues to respond to consumer preferences by modifying

its available brands with Piperlime discontinued in 2015 (Reuters, 2015).

Products and Services

Gap Inc. is an incorporated franchise that maintains several brands. All brands offer

different apparel and accessories to segments within the consumer market.

Gap. Gap is the flagship brand for Gap Inc. Established in 1969, Gap provides clothing

lines at accessible price points. The Gap brand focuses on classic clothing lines and a desire to

allow customers to express individuality in clothing choices. The Gap line offers standard men’s

and women’s lines of clothing as well as a children’s line through Gap Kids. Gap also offers a

maternity line, allowing women to remain individually fashionable through their pregnancy.

Store products include several types of clothing items including: loungewear, sleepwear, active

apparel, and intimate apparel in addition to everyday wear. Gap is available in stores, online, in

outlet stores, and in franchise stores (Reuters, 2015).

Banana Republic. The second brand acquired by Gap, Banana Republic focuses on the

modern business and business casual market segments at higher price points than the Gap

brands. Versatile work wear appeals to consumers wishing for an outfit that can transition easily

from work to an evening out at dinner. Banana Republic offers limited-edition collections that

are designer-inspired. The Banana Republic brand offers multiple products including: eyewear,

jewelry, personal care products, handbags, and shoes in addition to apparel. Banana Republic is

available in stores, online, in outlet stores, and in franchise stores (Reuters, 2015).

Old Navy. Old Navy was created as an addition to the Gap brand to make essential

garments and accessories available to every family. By providing updated basics and trendy

clothing and accessories at lower price points, Old Navy appeals to a wide market segment

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including adults and children. Old Navy is available online and in stores and has international

stores in Japan, China, and the Phillipines (Reuters, 2015).

Piperlime. Introduced as a solely online store, Piperlime spotlights its wide selection of

shoes and handbags while also offering both private-label and branded apparel and accessories.

Piperlime offers a variety of price points and tips from editors on combining products for a

specific look or for the season’s trends. Piperlime is available online and through one store

location in SoHo, New York (Reuters, 2015). Piperlime will be discontinued in 2015.

Athleta. Acquired to expand Gap’s brand to include a focus on fitness and lifestyle,

Athleta offers products that are high-quality, functional, and stylish. Apparel, shoes, and

accessories are available online, in a catalog, and in stores (Reuters, 2015).

Intermix. Intermix is marketed separately from the Gap online store and is known for

mixing luxury and contemporary fashion. From season must-haves to exclusive designer

products, the Intermix brand can be purchased online and in store in the US and Canada

(Reuters, 2015).

Services. Gap Inc. offers purchasing services in the form of gift cards within each of its

brands. Additionally, Gap, Banana Republic, and Old Navy all offer credit cards with rewards

programs to reward frequent shoppers. The credit card services are provided by a third-party

financing company (Reuters, 2015).

Operations

The ability to develop and evolve existing Gap Inc. brands is central to its operations.

The distinct brands are the operational strength of the business and Gap Inc. controls all aspects

of Gap, Banana Republic, Old Navy and Athleta. Piperlime and Intermix are controlled by Gap

Inc. excluding product design by third-party products. Gap Inc. invests in itself for marketing,

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omni-channel capabilities, online shopping enhancements, store remodeling, the supply chain,

and international expansion (Gap Inc., 2014).

Gap Inc.’s strategic operations goals focus on gaining strategic market shares around the

world and in North America through its variety of brands under the Gap Inc. name. The six

brands; Gap, Banana Republic, Old Navy, Athleta, Piperlime, and Intermix; are all counted

within the international strategy. Expanding the Gap Inc.’s leading digital and online capabilities

are integral to the strategic operations of the company (O'Connell & Kissko, 2013).

Building on factors including revenue and product momentum, Gap established itself as

the world favorite for American style in 2012. The well recognized brands under Gap Inc. will

have no issue gaining shares in the $1.4 trillion global apparel market. Key focuses for

operations currently in Gap Inc. include improving the digital interface to make shopping

through the digital system seamless for consumers, and revealing Old Navy and its low price

point shopping experience to untapped markets around the world (O'Connell & Kissko, 2013).

While looking to continue the growth of Gap Inc. and its brands, Gap Inc. continues to

promote environment and social responsibility in its operations. The “Be what’s possible”

campaign is Gap Inc.’s nonprofit and charitable arm: the Gap Foundation. Focusing on the

community, specifically youth in the developed world and women in the developing world, Gap

Inc. maintains operations that give back to the community and support goals of social

responsibility in all aspects of the business (Gap Inc., 2015).

Vision

When Doris and Don Fisher opened the first Gap store in 1969, they foresaw a business

that did more than sell clothing. They saw an opportunity for company growth guided by

humility, compassion, and a strong desire to win. The Gap store was founded on solid

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principles: creativity, delivering results, doing what’s right, and thinking of customers first (Gap

Inc., 2015). This vision was established in 1969 along with the initial store opening, but Gap

Inc. holds these characteristics true today.

Mission Statement

The Gap Inc. mission statement is simple and straightforward: “Be the world’s favorite

for American style” (Gap Inc., 2015). With a humble beginning in 1969, Don and Doris Fisher

wanted to do more than sell clothes. With the tremendous growth of the company over the

decades, Gap Inc. has come to stand for American fashion the world over. The mission of the

company is simply to maintain that title of world’s favorite for American style in the

international market and to continue to grow and develop the brands under Gap Inc. in the

massive global apparel market.

Corporate Values and Culture

Gap Inc. is committed to providing toward environmental and social responsibility

through all of its company operations. Building a culture of quality and dedicated business

values and culture from management to employees requires focus and responsibility. There are

four key values within the Gap Inc. culture that are nurtured in all aspects of the business: think,

inspire, do, and deliver (Gap Inc., 2012).

Think: Customers First. Understanding consumers is necessary for a business to

succeed in any market (Gap Inc., 2012). Gap Inc. understands this and ensures the company and

its employees considers the diversity in the consumer population including diversity of thought,

experience, and perspectives. Understanding the needs of the customer is vital to good business.

Inspire: Creativity. Building on the different perspectives of the consumers and

leveraging the perspectives of the employees within Gap Inc., new ideas are encourage to flow

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(Gap Inc., 2012). Creating new products and enhancing stores, online sites, and clothing lines

will keep Gap Inc. the world-wide favorite for American styles as well and keep the company

growing.

Do: What’s Right. Treating people with respect and acting with integrity is a great way

to do business (Gap Inc., 2012). This value applies to every customer, supplier, and employee

within and associated with the organization.

Deliver: Results. By incorporating the previous values, employees are supported in a

dynamic and inclusive work environment that inspires employees to thrive and generate top

performance (Gap Inc., 2012). By creating a positive and creative environment, everyone is

encouraged to do their best and provide quality work.

Gap Inc. Work Environment. Within the Values and Culture, Gap Inc. is committed to

providing employees with a great place to work. In maintaining programs and initiatives, Gap

Inc. fosters the positive work environment through: Diversity and Inclusion, Career

Development, Recognition, and Benefits and Rewards (Gap Inc., 2012).

SWOT Analysis

Gap Inc. has proven its capability as a company to thrive over the long term. As with any

business, however, there are strengths, weaknesses, opportunities, and threats to the company.

Understanding aspects of the SWOT analysis is necessary for strategic planning for the business.

Strengths. Gap Inc. strengths include its dedication to maintaining a positive culture

with positive values and work environment. The encouragement of creativity promotes strong

product development and internal programs to give back to the community provide positive

consumer associations with the company. By owning several brands at different price points,

Gap Inc. can appeal to several segments of the global apparel market (Gap Inc., 2012).

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Weaknesses. Gap Inc. weaknesses include providing a product with a specific style.

While many consumers seek the American look and go to Gap Inc. brands for their products, it

may not be well received in all markets. Continually modifying trends can be a weakness as the

company alters lines for new styles and loses consumers who preferred previous designs (Gap

Inc., 2012).

Opportunities. Gap Inc. has several opportunities for continued success and growth

within the industry. The company is continuing to expand internationally (Gap Inc., 2015). The

Old Navy brand is ready for introduction to more and more locations around the world.

Continued work with designers for new lines within the brands and updating of current lines will

keep all the brands fresh within the market.

Threats. The largest threats to Gap Inc. include its many competitors in the global

apparel market (Nasdaq, 2015). The ever changing trends within the market are also a threat to

Gap Inc. Keeping up with changes and maintaining efficient supply chains and designs could

stress Gap Inc.’s resources against competitors. The rising prices of raw materials and the

economic recession are also threats to the company.

Competition

There are a significant number of competitors within the Clothing/Shoe/Accessory Stores

Industry. Per NASDAQ assessment, arranged by amount of closing price on 24 April 2015, Gap

Inc. is 12th in the industry. (See Figure 1, (Nasdaq, 2015)). The top three competitors for Gap

Inc. are Ross Stores, Inc., L Brands, Inc., and Nordstrom, Inc.

Ross Stores, Inc. Ross Stores offers two brands under the company: Ross Dress for Less

and dd’s DISCOUNTS®. Ross Stores provides the largest off-price apparel and home fashion

chain in the United States (Ross Stores, Inc., 2014). Ross provides prices discounted from 20 to

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60 percent off specialty and department store regular prices. With over 1,200 locations in the US

and Guam, Ross is a strong competitor for Gap Inc. within the US. Without an international

presence, however, Ross is not a threat to the Gap Inc. business.

L Brands, Inc. L Brands owns several subsidiaries including: Victoria’s Secret, Bath &

Body Works, La Senza, and Henri Bendel (L Brands, Inc., 2014). Victoria’s Secret retails at

higher price points than many of the products offered by Gap Inc., but competes with the

intimates, apparel, shoes, and personal care products offered. The Bath & Body Works stores

provide a greater variety of personal care products than any of the brands within Gap Inc. L

Brands operates within the US, Canada, and the United Kingdom, placing it in international

competition with Gap Inc., but it does not have the reach of Gap Inc. internationally.

Nordstrom, Inc. Founded in 1901 as a retail shoe business in Seattle, Nordstrom

operates nearly 300 stores throughout the US. Additionally, Nordstrom offers online shopping

through Nordstrom.com, Nordstromrack.com, HauteLook.com, and TrunkClub.com. While a

competitor to Gap Inc. in the apparel retail business, much of Nordstrom’s price points are

higher than Gap Inc.’s. Additionally, Nordstrom does not provide competition in the

international market (Nordstrom, Inc., 2014).

Management Team / Leadership

The executive team for Gap Inc. is diverse and focused on maintaining the strategy to

engage customers and maximize shareholder returns (Gap Inc., 2015).

Art Peck is the Chief Executive Officer for Gap Inc. He has worked for Gap

Inc. since 2005 and has held senior leadership positions around the US.

Sabrina Simmons is the Executive Vice President and Chief Financial Officer of

Gap Inc. She joined Gap Inc. in 2001, working her way up through the ranks.

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Andi Owen is the Global President for Banana Republic. She joined the Gap

Inc. group in 1991 and has held several different leadership position in the company.

Stefan Larsson is the Global President of Old Navy. He joined Gap Inc. in 2012

after transitioning from 15 years with H&M.

Jeff Kirwin is the Global President of Gap. He joined Gap Inc. in 2004. He

recently took this job after leading the greater China business for Gap Inc.

Sonia Syngal is the Executive Vice President of Global Supply Chain and

Product Operations of Gap Inc. She joined Gap Inc. in 2004.

Nancy Green is the President and General Manager of Athleta. She rejoined

Gap Inc. in 2009 after previously working in retail for 16 years.

Jyothi Rao is the President and General Manager of Intermix. With a work

history including 16 years at Gap Inc., she joined Intermix in 2014.

Sol Goldfarb is the Executive Vice President for Digital and Customer

Experience for Gap Inc. Responsible for the technological agenda across five brands,

he joined Gap Inc. in 2004.

Michelle Banks is the Executive Vice President for Global Sustainability,

General Counsel, Corporate Secretary, and Chief Compliance Officer for Gap Inc. She

joined in 1999.

Bobbi Silton is the Senior Vice President for Global Sustainability and President

of the Gap Foundation. She has led Gap Foundation since 2005 and her work history

includes serving as a member of the White House Committee for Community Solutions in 2011-

2012.

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Ray Miolla is the Senior Vice President of Global Real Estate, Store

Development, and Franchise Services for Gap Inc. He joined Gap Inc. in 2003.

A varied groups of individuals provide the leadership for Gap Inc. bringing various skills

and a diverse history from jobs around the country and world. Supporting a diverse work

environment is a value central to Gap Inc. (All photos and job listing extracted from (Gap Inc.,

2015)).

Financial Outlook

Gap Inc. suffered from the economic downturn in 2008 and 2009 as many businesses and

individuals did. The company struggled to maintain sales and growth. Regaining some

momentum, the investment analyst assessment prior to 2014 was that Gap Inc. would outperform

the market, regaining the losses collected during the downturned economy. With a change on 23

September 2014, the current expectation for Gap Inc. is that they will maintain their position in

the global market and investors are advised to hold stock (FT Market Research, 2015).

Share price forecast. Expectations for the share price over the next year range from a

high of 50.00 to a low of 35.00. The median expectation is 44.50 which is an 8.91 percent

increase from the last price of 40.86 (FT Market Research, 2015).

Dividends. Gap Inc. reported dividends of 0.88 USD, a 25.71 percent increase over the

previous year. Expectations of dividends for the next fiscal year are expected to be 0.89 USD,

another increase of 1.02 percent (FT Market Research, 2015).

Earnings History and Estimates. Gap reported quarterly earnings of 0.75 per share as

expected by analysts and exceeding the previous year’s same quarter by 10.29 percent. Gap Inc.

also reported annual earnings of 2.82, an increase of 2.91 percent over the previous year (FT

Market Research, 2015).

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Revenue. Gap Inc. reported quarterly revenues of 4.71 billion USD, increasing from the

reported 4.04 billion USD of the previous quarter and up 18.53 percent above the same quarter

the previous year. Annual revenues also increased 1.78 percent over the previous year with

16.44 billion USD from the previous year’s 16.15 billion USD (FT Market Research, 2015).

Gap Inc. has continued to recover from the economic downturn and the company is

seeking to continue growth both in North America and abroad.

Strategies

Strategy is necessary for a company to maintain growth and success. As the company,

market, and economy evolve, the strategy also needs to evolve to meet new challenges and

opportunities. Part of the strategy of a brand is the look and feel of the stores. Gap Inc.

attempted to alter its brand image in 2010 and met with a massive backlash from loyal customers

(Ellis, 2010). The new logo is on the left in the image below, while the traditional logo is on the

right.

After debuting the logo, customers immediately flooded social media sights with

opinions about the new logo: primarily their dislike of it (Ellis, 2010). Gap recognized

customer’s unhappiness with the new logo and requested discussion and ideas to move the logo

forward. Ultimately, Gap reverted to the previous logo in acquiescence to consumer demands.

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Strategies for the company to move forward need to include attention to customer

feedback. Redesigning popular lines of apparel can backfire and disenchant loyal consumers as

seen with the previously mentioned logo change, but stagnant lines will lose consumers as well.

The balance between maintaining brand assets with changing trends is a delicate position. There

are several areas where the company strategy to move forward has excessive potential

(Hendricks, 2014).

Expansion in Asia. With recent openings in the elusive market in Greater China, Gap

Inc. has set the stage for continued success in the eastern market. With a hunger for the

American image, China has massive populations and rising income available for lifestyle

purchases. Gap Inc. is set to open 40 stores in India and 110 in China over the next year

(Hendricks, 2014).

Acquisition of New Brands. Gap Inc. completed much of its expansion through

acquisition of additional brands. Banana Republic and Old Navy have been part of Gap Inc. for

many years. Expansion within recent years includes new virtual and online brands including

Intermix, Piperlime, and Athleta (Hendricks, 2014). While Piperlime will be discontinued in

2015, Gap Inc. should continue to seek appropriate brands for expansion. Multiple brands with

different price points allows Gap Inc. to appeal to a larger market audience.

Fewer Brick and Mortar Stores. With the increase in the capacity and capability of

online shopping, more and more customers can be reached through the internet. Assessing the

success of current standing stores can make the overall structure of the organization more

efficient by reducing costs and increasing profit margins. Gap Inc. leveraged this option in 2011

by closing 21 percent of its stores in the US (Hendricks, 2014). By retaining over watch on the

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costs and profits for brick and mortar stores, Gap Inc. can streamline operations within the

company.

Online Sales Focus. In line with reducing brick and mortar stores tied with increases

internet sales, Gap Inc. has devoted much time and effort to improving the online experience.

The website Gap.com is an integrated site with all the other Gap Inc. brands except Intermix.

The ease of shopping at the different brand outlets with one basket and checkout makes the

experience much smoother for the customer (Hendricks, 2014). Continued focus on improving

their online presence and maintaining state of the art interfaces will keep Gap Inc. on the cutting

edge of internet sales into the future.

Environmental and Social Responsibility. Gap Inc. has supported a non-profit

charitable organization since 1977 with the Gap Foundation. That foundation now supports the

“Be what’s possible” campaign and specific programs help both women and children trying to

improve their environments (Gap Inc., 2015). Continued to stress the environmental and social

responsibility is a necessity in the increasing focus of customers to identifying a corporation’s

dedication to not harming the environment.

Conclusion

Gap Inc. began with Don and Doris Fisher, a single store front in 1969, and a desire to

provide more than just clothing to their customers. Over the years, the company has expanded to

include five additional brands to Gap (Banana Republic, Old Navy, Athleta, Piperlime, and

Intermix) and expanded internationally. The company has plans to continue to “Be the World’s

Favorite for American Style” (Gap Inc., 2015) and to continue to grow internationally and in an

online presence. Gap Inc. is here to stay in the global apparel industry.

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References

Ellis, B. (2010, October 8). New Gap logo ignites firestorm. Retrieved from CNN: Money:

http://money.cnn.com/2010/10/08/news/companies/gap_logo/

FT Market Research. (2015, April 24). Consensus recommendation. Retrieved from ft.com:

Markets: http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=GPS:NYQ

Gap Inc. (2012). Operating context and strategy. Retrieved from Social & Environmental

Responsibility Report 2011/2012:

http://www.gapinc.com/content/csr/html/employees/operating-context-and-strategy.html

Gap Inc. (2014). Form 10-K FY 2014. Gap Inc. Retrieved from

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7c66c3afce32b0c0.msdoc/original

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https://www.bewhatspossible.com/Home/AboutBeWhatsPossible.aspx

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http://www.gapinc.com/content/gapinc/html/aboutus/ourstory.html

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http://www.gapinc.com/content/gapinc/html/aboutus/gapincexectives.html

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Hendricks, D. (2014, September 15). Gap's new retail approach and how it's affecting sales.

Retrieved from Inc. Strategy: http://www.inc.com/drew-hendricks/gap-s-new-retail-

approach-and-how-it-s-affecting-sales.html

L Brands, Inc. (2014). Form 10-K FY 2014. Retrieved from

http://secfilings.nasdaq.com/edgar_conv_html%2f2015%2f03%2f20%2f0000701985-15-

000006.html#FIS_BUSINESS

Nasdaq. (2015, April 24). Gap, Inc. (The) competitors. Retrieved from Nasdaq:

http://www.nasdaq.com/symbol/gps/competitors?sortname=lastsale&sorttype=1

Nordstrom, Inc. (2014). Form 10-K FY 2014. Retrieved from

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K&d=b1f05b78e4222f7db6e6a840bb85030e

O'Connell, K., & Kissko, E. (2013, April 17). Gap Inc. outlining strategies to continue global

growth, digital innovation. Retrieved from Business Wire:

http://www.businesswire.com/news/home/20130417006017/en/Gap-Outlining-Strategies-

Continue-Global-Growth-Digital#.VT1cypOzK_Y

Reuters. (2015, April). Profile: Gap Inc (GPS). Retrieved from Reuters Edition US:

http://www.reuters.com/finance/stocks/companyProfile?symbol=GPS

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000009.html#FIS_BUSINESS

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Sunset, B. (2008, December 28). Khakis Campaign. Retrieved from Marketing Campaign Case

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Figure 1 NASDAQ Gap Inc. Competitor Industry (Nasdaq, 2015).