May 19, 2013
The Gap, Inc. (NYSE: GPS) is a clothing retailer based in the United States, operating 3,085 retail stores under three distinct apparel brand names – "Gap", budget brand "Old Navy", and urban chic brand "Banana Republic". Other brand extensions include GapBody, GapKids, and BabyGap.
The Gap's ethos of providing stylish clothes at affordable prices has been made more difficult due to the hostile retail environment. Five consecutive years of declining sales as well as increasing commodity prices have led to struggles for The Gap. Since CEO Glenn Murphy joined the company in 2007, Gap has reduced its store count, revamped its brands, and begun to expand slowly into Europe and Asia.
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