Banana Republic 2014 Annual Report Download

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2014 ANNUAL REPORT

Table of contents

  • Page 1
    2014 ANNUAL REPORT

  • Page 2
    ... our performance in 2014 indicated, we pave work to do. Our focus is to put on-trend, on-brand, quality product in our stores, season after season, in every one of our brands. Old Navy is our proof positive tpat we know pow to get product rigpt. Tpe brand delivered positive comparable sales results...

  • Page 3
    ... new capabilities across a wide range of areas, including mobile, personalization, omni-cpannel, loyalty and customer relationspip management. A number of programs-sucp as Order in Store and Reserve in Store-provide flexible options for pow customers can get exactly wpat tpey want from our brands...

  • Page 4
    ... feel good tpat, as a management team, we moved tpe business forward in doing tpe rigpt tping. Doris: I agree wpolepeartedly. Last year, under your leaderspip, tpe company announced tpat we would raise tpe minimum wage for our associates. And we also spared publicly tpat we pay women and men equally...

  • Page 5
    ...the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-7562 THE GAP, INC. (Exact name of registrant as specified in its charter) Delaware (State of Incorporation) Two Folsom Street, San Francisco, California (Address of principal executive offices) 94-1697231...

  • Page 6
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  • Page 7
    ... our accounting policies; • the assumptions used to estimate the grant date fair value of stock options; • our intention to utilize undistributed earnings of our foreign subsidiaries; • total gross unrecognized tax benefits; • expected payments to International Business Machines Corporation...

  • Page 8
    ... changes in global economic conditions or consumer spending patterns could adversely impact our results of operations; • the highly competitive nature of our business in the United States and internationally; • the risk that if we are unable to manage our inventory effectively, our gross margins...

  • Page 9
    ... to predict. These forward-looking statements are based on information as of March 23, 2015, and we assume no obligation to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not...

  • Page 10
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  • Page 11
    ... ...Management's Discussion and Analysis of Financial Condition and Results of Operations ... 13 16 18 31 32 68 68 68 Item 7A. Quantitative and Qualitative Disclosures About Market Risk ...Item 8. Item 9. Financial Statements and Supplementary Data ...Changes in and Disagreements With Accountants...

  • Page 12
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  • Page 13
    ... to close the online platform and the store in New York by the end of the first half of fiscal 2015. Gap Inc. has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, Italy, China, Hong Kong, and as of March 2014, Taiwan. We also have franchise agreements...

  • Page 14
    ... to shopping and personal style. Customers can shop in stores in the United States and Canada, and online. All sales to customers are tendered for cash, debit cards, credit cards, or personal checks. We also issue and redeem gift cards through our brands. Gap, Banana Republic, and Old Navy each...

  • Page 15
    ... Old Navy stores in a number of countries throughout Asia, Australia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will operate, stores that sell apparel and related products under our brand names. For additional information on risks related...

  • Page 16
    ... from February 2013 to December 2014; Senior Vice President, Managing Director and Chief Operating Officer, Gap China from May 2011 to February 2013; Senior Vice President, Stores and Operations, Old Navy from August 2008 to May 2011; Senior Vice President and General Manager, Old Navy Canada from...

  • Page 17
    ...President, Old Navy International from February 2013 to November 2013; Senior Vice President and Managing Director, Europe from May 2011 to February 2013; Senior Vice President and General Manager, International Outlets from January 2010 to May 2011; Vice President of Global Production, Supply Chain...

  • Page 18
    ... of the applicable selling season. As a result, we are vulnerable to demand and pricing shifts and to suboptimal selection and timing of merchandise purchases. In the past, we have not always predicted our customers' preferences and acceptance levels of our trend items with accuracy. If sales do not...

  • Page 19
    ...at the end of fiscal 2014 and beginning of fiscal 2015 created product delivery delays that impacted our ability to effectively manage our inventory and deliver seasonally correct product in a timely manner, which could significantly impact our financial results for fiscal 2015. Manufacturing delays...

  • Page 20
    ... will operate, stores and websites that sell apparel and related products under our brand names. The effect of these arrangements on our business and results of operations is uncertain and will depend upon various factors, including the demand for our products in new markets internationally and our...

  • Page 21
    ...material adverse effect on our business. At the end of fiscal 2014 and beginning of fiscal 2015, there were several changes made to the members of our senior leadership team, including our Chief Executive Officer, Global President, Gap, and Global President, Banana Republic. The effectiveness of the...

  • Page 22
    ... reduce the market price of our common stock and cause our credit ratings to decline. Changes in our credit profile or deterioration in market conditions may limit our access to the capital markets and adversely impact our financial results or our business initiatives. In April 2011, we issued $1.25...

  • Page 23
    ... million square feet of corporate office space located in San Francisco, Rocklin, Petaluma, Pleasanton, and Los Angeles, California; New York, New York; Albuquerque, New Mexico; and Toronto, Ontario, Canada. We also lease regional offices in North America and in various international locations. We...

  • Page 24
    ..., or resolutions may occur and impact income in the quarter of such development, settlement, or resolution. However, we do not believe that the outcome of any current Action would have a material effect on our Consolidated Financial Statements. Item 4. Mine Safety Disclosures. Not applicable. 12

  • Page 25
    ...stock is traded is the New York Stock Exchange. The number of holders of record of our stock as of March 17, 2015 was 7,264. The table below sets forth the market prices and dividends declared and paid for each of the fiscal quarters in fiscal 2014 and 2013. Market Prices Fiscal 2014 High Low Fiscal...

  • Page 26
    ... assumes quarterly reinvestment of dividends. TOTAL RETURN TO STOCKHOLDERS (Assumes $100 investment on 1/30/2010) Total Return Analysis 1/30/2010 1/29/2011 1/28/2012 2/2/2013 2/1/2014 1/31/2015 The Gap, Inc. S&P 500 Dow Jones U.S. Apparel Retailers $ $ $ 100.00 100.00 100.00 $ $ $ 102.59 122...

  • Page 27
    ... table presents information with respect to purchases of common stock of the Company made during the thirteen weeks ended January 31, 2015 by The Gap, Inc. or any affiliated purchaser, as defined in Exchange Act Rule 10b-18(a)(3): Total Number of Shares Purchased as Part of Publicly Announced Plans...

  • Page 28
    ...of Financial Condition and Results of Operations" in Item 7 and the Company's Consolidated Financial Statements and related notes in Item 8. Fiscal Year (number of weeks) 2014 (52) 2013 (52) 2012 (53) 2011 (52) 2010 (52) Operating Results ($ in millions) Net sales Gross margin Operating margin Net...

  • Page 29
    ...we acquired all of the outstanding capital stock of Intermix, a multi-brand specialty retailer of luxury and contemporary apparel and accessories, for an aggregate purchase price of $129 million. Includes the associated comparable online sales. Includes Company-operated and franchise store locations...

  • Page 30
    ..., and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. We have Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, Italy, China, Hong Kong, and beginning in March 2014...

  • Page 31
    ... Consolidated Financial Statements for net sales by brand and region. Comparable Sales The percentage change in Comp sales by global brand and for total Company, as compared with the preceding year, is as follows: Fiscal Year 2014 2013 Gap Global Old Navy Global Banana Republic Global The Gap, Inc...

  • Page 32
    ...consistent basis for comparison. Store Count and Square Footage Information Net sales per average square foot is as follows: 2014 Fiscal Year 2013 2012 Net sales per average square foot (1) _____ (1) Excludes net sales associated with our online and franchise businesses. $ 361 $ 365 $ 364 20

  • Page 33
    ... Locations Fiscal 2014 Number of Number of Stores Opened Stores Closed January 31, 2015 Number of Square Footage Store Locations (in millions) Gap North America Gap Asia Gap Europe Old Navy North America Old Navy Asia Banana Republic North America Banana Republic Asia Banana Republic Europe Athleta...

  • Page 34
    ... sales trends by excluding the impact of foreign currency exchange rate fluctuations. Fiscal 2013 consisted of 52 weeks compared with 53 weeks in fiscal 2012. Cost of Goods Sold and Occupancy Expenses ($ in millions) 2014 Fiscal Year 2013 2012 Cost of goods sold and occupancy expenses Gross...

  • Page 35
    ... in fiscal 2013. Interest expense for fiscal 2012 primarily consists of interest expense related to our $1.25 billion long-term debt and $400 million term loan, which was repaid in full in August 2012. Income Taxes ($ in millions) 2014 Fiscal Year 2013 2012 Income taxes Effective tax rate $ 751...

  • Page 36
    ... operating activities during fiscal 2014 increased $424 million compared with fiscal 2013, primarily due to the following: • an increase of $284 million related to other current assets and other long-term assets primarily due to the change in timing of payments received related to our credit card...

  • Page 37
    ...maintain stores and purchase new equipment to improve our business. We use this metric internally, as we believe our sustained ability to generate free cash flow is an important driver of value creation. However, this non-GAAP financial measure is not intended to supersede or replace our GAAP result...

  • Page 38
    ...) 2014 Fiscal Year 2013 2012 Net cash provided by operating activities Less: Purchases of property and equipment Free cash flow Long-Term Debt and Credit Facilities $ $ 2,129 $ (714) 1,415 $ 1,705 $ (670) 1,035 $ 1,936 (659) 1,277 Certain financial information about the Company's long-term...

  • Page 39
    ... Notes to Consolidated Financial Statements for discussion of our operating leases. Represents estimated open purchase orders to purchase inventory as well as commitments for products and services used in the normal course of business. There is $75 million of long-term liabilities recorded in lease...

  • Page 40
    ... this annual report on Form 10-K. Merchandise Inventory We value inventory at the lower of cost or market ("LCM"), with cost determined using the weighted-average cost method. We review our inventory levels in order to identify slow-moving merchandise and broken assortments (items no longer in stock...

  • Page 41
    ... the related cost of goods sold at the time the products are received by the customers. For sales transacted at stores, revenue is recognized when the customer receives and pays for the merchandise at the register. For sales where we ship the merchandise to the customer from the distribution center...

  • Page 42
    ... rate of sales returns increases significantly, our operating results could be adversely affected. We have not made any material changes in the accounting methodology used to estimate future sales returns in the past three fiscal years. Unredeemed Gift Cards, Gift Certificates, and Credit Vouchers...

  • Page 43
    ... rate risk associated with a 15 billion Japanese yen ($128 million as of January 31, 2015), four-year, unsecured term loan as of January 31, 2015 is as follows: Expected Maturity Date (Fiscal Year) (Â¥ in billions) 2015 2016 2017 2018 Total Fair Value (1) Principal payments Average interest rate...

  • Page 44
    ... FINANCIAL STATEMENTS Page Report of Independent Registered Public Accounting Firm ...Consolidated Balance Sheets as of January 31, 2015 and February 1, 2014 ...Consolidated Statements of Income for the fiscal years ended January 31, 2015, February 1, 2014, and February 2, 2013 ...Consolidated...

  • Page 45
    ... balance sheets of The Gap, Inc. and subsidiaries (the "Company") as of January 31, 2015 and February 1, 2014, and the related consolidated statements of income, comprehensive income, stockholders' equity, and cash flows, for each of the three fiscal years in the period ended January 31, 2015...

  • Page 46
    THE GAP, INC. CONSOLIDATED BALANCE SHEETS January 31, 2015 February 1, 2014 ($ and shares in millions except par value) ASSETS Current assets: Cash and cash equivalents Merchandise inventory Other current assets Total current assets Property and equipment, net Other long-term assets Total assets ...

  • Page 47
    ... GAP, INC. CONSOLIDATED STATEMENTS OF INCOME Fiscal Year ($ and shares in millions except per share amounts) 2014 2013 2012 Net sales Cost of goods sold and occupancy expenses Gross profit Operating expenses Operating income Interest expense Interest income Income before income taxes Income taxes...

  • Page 48
    THE GAP, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Fiscal Year ($ in millions) 2014 2013 2012 Net income Other comprehensive income (loss), net of tax: Foreign currency translation, net of tax (tax benefit) of $(2), $5, and $Change in fair value of derivative financial instruments, net ...

  • Page 49
    ... plans, net of shares withheld for employee taxes Tax benefit from exercise of stock options and vesting of stock units Share-based compensation, net of estimated forfeitures Common stock cash dividends ($0.50 per share) Balance as of February 2, 2013 Net income Other comprehensive loss, net of...

  • Page 50
    ... of stock options and vesting of stock units Excess tax benefit from exercise of stock options and vesting of stock units Non-cash and other items Deferred income taxes Changes in operating assets and liabilities: Merchandise inventory Other current assets and other long-term assets Accounts payable...

  • Page 51
    ... of Significant Accounting Policies Organization The Gap, Inc., a Delaware Corporation, is a global retailer offering apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. We have Company...

  • Page 52
    ...cost method. We record an adjustment when future estimated selling price is less than cost. We review our inventory levels in order to identify slow-moving merchandise and broken assortments (items no longer in stock in a sufficient range of sizes or colors) and use promotions and markdowns to clear...

  • Page 53
    ... for sales transacted at stores when the customer receives and pays for the merchandise at the register. For sales where we ship the merchandise to the customer from the distribution center or store, revenue is recognized at the time the customer receives the product. Amounts related to shipping and...

  • Page 54
    ... related benefits (for our store operations, field management, distribution centers, and corporate functions); • marketing; • general and administrative expenses; • costs to design and develop our products; • merchandise handling and receiving in distribution centers; • distribution center...

  • Page 55
    ...discrete financial information is prepared and regularly reviewed by segment management. We have deemed Athleta and Intermix to be the reporting units at which goodwill is tested for Athleta and Intermix, respectively. A trade name is considered impaired if the estimated fair value of the trade name...

  • Page 56
    ... the Consolidated Statements of Income over the period during which the employee is required to provide service in exchange for stock options and Stock Units. Unredeemed Gift Cards, Gift Certificates, and Credit Vouchers Upon issuance of a gift card, gift certificate, or credit voucher, a liability...

  • Page 57
    ... Canadian store locations and online. The co-branded credit card is a VISA credit card bearing the logo of Gap, Banana Republic, or Old Navy and can be used everywhere VISA credit cards are accepted. A third-party financing company is the sole owner of the accounts and underwrites the credit issued...

  • Page 58
    ... made. The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties related to unrecognized tax benefits in operating expenses in the Consolidated Statements of Income. Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board...

  • Page 59
    ... fiscal 2014, 2013, and 2012, respectively, which is recorded in operating expenses in the Consolidated Statements of Income. Other Long-Term Assets Other long-term assets consist of the following: ($ in millions) January 31, 2015 February 1, 2014 Goodwill Long-term income tax-related assets Trade...

  • Page 60
    ... Balance Sheets. Note 3. Acquisition On December 31, 2012, we acquired all of the outstanding capital stock of Intermix Holdco Inc. ("Intermix"), a multi-brand retailer of luxury and contemporary women's apparel and accessories based in New York, New York, for an aggregate purchase price...

  • Page 61
    ... Trade name Intangible assets subject to amortization Net assets acquired Total purchase price _____ (1) $ 85 38 3 3 129 $ $ $ (4) $ - - 4 - $ 81 38 3 7 129 As previously reported in our Form 10-K for the year ended February 2, 2013. See Note 4 of Notes to Consolidated Financial Statements...

  • Page 62
    ... discount. As of January 31, 2015 and February 1, 2014, the estimated fair value of the Notes was $1.44 billion and $1.39 billion, respectively, and was based on the quoted market price of the Notes (level 1 inputs) as of the last business day of the respective fiscal year. In January 2014...

  • Page 63
    ... level 2 during fiscal 2014 or 2013. Financial Assets and Liabilities Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents held at amortized cost are as follows: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical...

  • Page 64
    ...fair value of the Company's derivative financial instruments is determined using pricing models based on current market rates. Derivative financial instruments in an asset position are recorded in other current assets or other long-term assets in the Consolidated Balance Sheets. Derivative financial...

  • Page 65
    ...into to hedge forecasted merchandise purchases and related costs, intercompany royalty payments, and intercompany revenue transactions generally have terms of up to 24 months. There were no material amounts recorded in income for fiscal 2014, 2013, or 2012 as a result of hedge ineffectiveness, hedge...

  • Page 66
    ...about Derivative Financial Instruments The fair values of foreign exchange forward contracts are as follows: ($ in millions) January 31, 2015 February 1, 2014 Derivatives designated as cash flow hedges: Other current assets Other long-term assets Accrued expenses and other current liabilities Lease...

  • Page 67
    ... recorded in the Consolidated Statements of Income, on a pre-tax basis are as follows: Fiscal Year ($ in millions) 2014 2013 2012 Gain recognized in operating expenses $ 20 $ 5 $ 5 Note 9. Common Stock Common and Preferred Stock The Company is authorized to issue 2.3 billion shares of common...

  • Page 68
    ... Translation Cash Flow Hedges Total Balance at February 2, 2013 Foreign currency translation Change in fair value of derivative financial instruments Amounts reclassified from accumulated OCI Other comprehensive income (loss), net Balance at February 1, 2014 $ $ 158 $ (51) - - (51) 107 $ 23...

  • Page 69
    ... Share-based compensation expense is as follows: Fiscal Year ($ in millions) 2014 2013 2012 Stock units Stock options Employee stock purchase plan Share-based compensation expense Less: Income tax benefit Share-based compensation expense, net of tax $ $ 86 $ 9 5 100 (37) 63 $ 99 $ 12 5 116...

  • Page 70
    ...of Stock Unit activity under the 2011 Plan for fiscal 2014 is as follows: Weighted-Average Grant-Date Fair Value Shares Balance as of February 1, 2014 Granted Granted, with vesting subject to performance conditions Vested Forfeited Balance as of January 31, 2015 A summary of additional information...

  • Page 71
    The fair value of stock options issued during fiscal 2014, 2013, and 2012 was estimated on the date of grant using the following assumptions: 2014 Fiscal Year 2013 2012 Expected term (in years) Expected volatility Dividend yield Risk-free interest rate 4.4 27.3% 2.1% 1.3% 4.5 31.5% 1.7% 0.7% 4.6...

  • Page 72
    ...non-cancelable sublease agreements. Rent expense related to our store premises, corporate facilities, and distribution centers under operating leases is as follows: ($ in millions) 2014 Fiscal Year 2013 2012 Minimum rent expense Contingent rent expense Less: Sublease income Total $ $ 1,209 $ 114...

  • Page 73
    ...$ The difference between the effective tax rate and the U.S. federal statutory tax rate is as follows: 2014 Fiscal Year 2013 2012 Federal statutory tax rate State and local income taxes, net of federal benefit Tax impact of foreign operations Excess foreign tax credits Other Effective tax rate 35...

  • Page 74
    ... of time and we have recorded related tax expense of $28 million in fiscal 2014. U.S. income tax has not been recognized on the excess of the amount for financial reporting over the tax basis of investments in certain foreign subsidiaries that is indefinitely reinvested outside the United States, as...

  • Page 75
    .... There were no accrued penalties related to the unrecognized tax benefits as of January 31, 2015 or February 1, 2014. The Company conducts business globally, and as a result, files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal...

  • Page 76
    ... DCP. The fair value of the Company's DCP assets is determined based on quoted market prices. As of January 31, 2015 and February 1, 2014, the assets related to the DCP were $40 million and $37 million, respectively, and were recorded in other long-term assets in the Consolidated Balance Sheets. As...

  • Page 77
    ... Information We identify our operating segments according to how our business activities are managed and evaluated. As of January 31, 2015, we had four operating segments: Gap Global, Old Navy Global, Banana Republic Global, and Growth, Innovation, and Digital ("GID"). Each brand's specialty, outlet...

  • Page 78
    ... in fiscal 2014, 2013, and 2012, respectively. Net sales by region are allocated based on the location in which the sale was originated. This is determined based on the location of the store where the customer paid for and received the merchandise or the distribution center or store from which...

  • Page 79
    ... financial instruments in an asset position and long-term deferred tax assets, by geographic location are as follows: ($ in millions) January 31, 2015 February 1, 2014 U.S. (1) Canada Total North America Other regions Total long-lived assets _____ (1) U.S. includes the United States, Puerto Rico...

  • Page 80
    ...independent registered public accounting firm, as stated in their report which is included herein. Changes in Internal Control over Financial Reporting There was no change in the Company's internal control over financial reporting that occurred during the Company's fourth quarter of fiscal 2014 that...

  • Page 81
    ... and Related Transactions, and Director Independence. The information required by this item is incorporated herein by reference to the sections entitled "Other Information" and "Corporate Governance-Director Independence" in the 2015 Proxy Statement. Item 14. Principal Accounting Fees and Services...

  • Page 82
    Part IV Item 15. Exhibits, Financial Statement Schedules. 1. Financial Statements: See "Index to Consolidated Financial Statements" in Part II, Item 8 of this Form 10K. Financial Statement Schedules: Schedules are included in the Consolidated Financial Statements or notes of this Form 10-K or are ...

  • Page 83
    ...) Date: March 23, 2015 By /s/ SABRINA L. SIMMONS Sabrina L. Simmons Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons...

  • Page 84
    ...'s Annual Report on Form 10-K for year ended January 29, 2000, Commission File No. 1-7562. Amended and Restated Bylaws of the Company (effective February 1, 2015), filed as Exhibit 3(ii) to Registrant's Form 8-K on November 14, 2014, Commission File No. 1-7562. Indenture, dated as of April 12, 2011...

  • Page 85
    ... ended May 4, 2013, Commission File No. 1-7562. (1) Amended and Restated Consumer Credit Card Program Agreement by and among Registrant, Gap (Puerto Rico), Inc., GPS Consumer Direct, Inc., Gap (Apparel), LLC, Gap (ITM) Inc., GE Capital Retail Bank and GE Capital Retail Finance Corporation, dated...

  • Page 86
    ...and Name Change to Deferred Compensation Plan, filed as Exhibit 10.2 to Registrant's Form 10-Q for the quarter ended October 31, 2009, Commission File No. 1-7562. 1981 Stock Option Plan, filed as Exhibit 4.1 to Registrant's Registration Statement on Form S-8, Commission File No. 33-54690. Management...

  • Page 87
    ... the quarter ended October 29, 2005, Commission File No. 1-7562. UK Employee Stock Purchase Plan, filed as Exhibit 4.1 to Registrant's Registration Statement on Form S-8, Commission File No. 333-47508. 2002 Stock Option Plan, as amended (formerly the 1999 Stock Option Plan as amended and Stock Up On...

  • Page 88
    ...'s 2002 Stock Option Plan, as amended, filed as Exhibit 4.7 to Registrant's Registration Statement on Form S-8, Commission File No. 333-72921. Non-Employee Director Retirement Plan, dated October 27, 1992, filed as Exhibit 10.43 to Registrant's Annual Report on Form 10-K for the year ended January...

  • Page 89
    ... for the year ended February 2, 2013, Commission File No. 1-7562. Form of Non-Qualified Stock Option Agreement under the 2011 Long-Term Incentive Plan, filed as Exhibit 10.2 to Registrant's Form 8-K on March 6, 2014, Commission File No. 1-7562. Form of Stock Award Agreement for Executives under the...

  • Page 90
    ...2012, Commission File No. 1-7562. Form of Restricted Stock Unit Award Agreement under the 2011 Long-Term Incentive Plan, filed as Exhibit 10.89 to Registrant's Form 10-K for the year ended February 2, 2013, Commission File No. 1-7562. Form of Restricted Stock Unit Award Agreement under the 2011 Long...

  • Page 91
    ...Banks dated June 4, 2014, filed as Exhibit 10.3 to Registrant's Form 10-Q for the quarter ended May 3, 2014, Commission File No. 1-7562. Agreement for Post-Termination Benefits with Jack Calhoun dated June 9, 2012, filed as Exhibit 10.121 to Registrant's Form 10-K for the year ended February 2, 2013...

  • Page 92
    ... 31, 2009, Commission File No. 1-7562. Amendment to Agreement with Eva Sage-Gavin dated November 4, 2011 and confirmed on January 3, 2012, filed as Exhibit 10.94 to Registrant's Form 10-K for the year ended January 28, 2012, Commission File No. 1-7562. Amendment to Post-Termination Benefits with Eva...

  • Page 93
    ... dated October 31, 2012 and confirmed on November 1, 2012, filed as Exhibit 10.120 to Registrant's Form 10-K for the year ended February 2, 2013, Commission File No. 1-7562. Amendment to Service Agreement Regarding Post-Termination Severance Period with Stephen Sunnucks dated June 4, 2014, filed...

  • Page 94
    ... from The Gap, Inc.'s Annual Report on Form 10-K for the year ended January 31, 2015, formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statements of Comprehensive Income, (iv) the...

  • Page 95
    ... President, Banana Republic Nancy Green President and General Manager, Athleta Jyothi Rao President and General Manager, Intermix Michelle Banks EVP, Global Sustainability, General Counsel, Corporate Secretary and Chief Compliance Officer Sonia Syngal EVP, Global Supply Chain and Product Operations...

  • Page 96
    Celebrate 2014 witp us by exploring some of our favorite moments, remixed for a fresp take. gapinc.com/remix