Banana Republic 2010 Annual Report Download - page 3

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Dear Shareholders,
In 2010, Gap Inc. took a big step onto the global retailing stage.
With significant advancements in our online and franchise
businesses, as well as entry into two more of the world’s top 10
retail markets, 2010 will stand out as the year we positioned the
company to compete and win globally.
We continued to expand share of sales generated from our
International and online businesses. In 2006, 14 percent of our
sales came from online and International. Now, we are on track
to nearly double that percentage within three years.
I’m proud we were able to execute on the next phase of our
strategy while continuing to deliver attractive financial results
for our investors. We achieved double-digit earnings per share
growth for the fourth consecutive year, and we’re well-positioned
to deliver further shareholder value in the years ahead.
The hard work of many people across Gap Inc. made these
accomplishments possible. For that reason, on the following
pages, I’ve asked a few of our leaders to help answer some ques-
tions that have come up in our conversations with shareholders.
We have a compelling company strategy, and now it’s up
to us to execute and deliver for our shareholders, employees
and customers.
Glenn K. Murphy
Chairman of the Board and Chief Executive Officer