The Gap 2013 Annual Report Download - page 17

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Among our most important
achievements is the
strength and consistency
of our financial results.
In a highly competitive, increasingly global industry, we are gaining market share. Reinforcing
our commitment to return extra cash to shareholders, in 2013, we returned $1.3 billion dollars
through share repurchases and dividends, and a new $1 billion share repurchase was authorized.
The company intends to raise its annual dividend per share to $0.88 – an increase of more than
75 percent over the last two years. Since 2007, we have demonstrated our consistency by growing
earnings per share at a compound annual growth rate of 17 percent. We’re proud that we delivered
another year of double-digit earnings per share growth in 2013, specifically 18 percent growth to
$2.74 per share for the year.
Underpinning our commercial progress and our priorities, our promise to do more than sell clothes
continues to guide us and inspire us. Our employees set yet another standard for volunteering at
Gap Inc., showing their dedication to our communities with more than 500,000 volunteer hours.
We helped form an alliance of retailers to improve factory conditions in Bangladesh, and our
leadership will continue to be critical to achieve the lasting change necessary in this country and
others where we source our products. And with great pride, we witnessed the groundbreaking
ceremony for the Don Fisher Clubhouse for the Boys and Girls Club of San Francisco, in recognition
of our co-founder’s amazing legacy.
We are ready to transform retail once again, to excite and inspire our customers now and in the
future. With another strong year behind us, and the strategy and commitment to achieve our
mission to be the world’s favorite for American style, I have the utmost confidence that Gap Inc.
is well on its way to winning on the global stage.
Glenn Murphy
Chairman of the Board and Chief Executive Ocer
Letter to Shareholders