The Gap 2010 Annual Report Download - page 25

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Item 6. Selected Financial Data.
The following selected financial data are derived from the Consolidated Financial Statements of the Company.
We have also included certain non-financial data to enhance your understanding of our business. In fiscal 2007,
we closed our Forth & Towne stores, and accordingly, the results of Forth & Towne have been presented as a
discontinued operation in the table below. The data set forth below should be read in conjunction with
“Management’s Discussion and Analysis 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)
2010 (52) 2009 (52) 2008 (52) 2007 (52) 2006 (53)
Operating Results ($ in millions)
Netsales.......................................... $ 14,664 $ 14,197 $ 14,526 $ 15,763 $ 15,923
Grossmargin...................................... 40.2% 40.3% 37.5% 36.1% 35.5%
Operating margin ................................. 13.4% 12.8% 10.7% 8.3% 7.7%
Income from continuing operations, net of income
taxes........................................... $ 1,204 $ 1,102 $ 967 $ 867 $ 809
Netincome ....................................... $ 1,204 $ 1,102 $ 967 $ 833 $ 778
Cashdividendspaid................................ $ 252 $ 234 $ 243 $ 252 $ 265
Per Share Data (number of shares in millions)
Basic earnings (loss) per share:
Incomefromcontinuingoperations ............. $ 1.89 $ 1.59 $ 1.35 $ 1.10 $ 0.97
Lossfromdiscontinuedoperation............... $ — $ — $ — $ (0.05) $ (0.03)
Earnings per share ............................ $ 1.89 $ 1.59 $ 1.35 $ 1.05 $ 0.94
Diluted earnings (loss) per share:
Incomefromcontinuingoperations ............. $ 1.88 $ 1.58 $ 1.34 $ 1.09 $ 0.97
Lossfromdiscontinuedoperation............... $ — $ — $ — $ (0.04) $ (0.04)
Earnings per share ............................ $ 1.88 $ 1.58 $ 1.34 $ 1.05 $ 0.93
Weighted-average number of shares—basic ......... 636 694 716 791 831
Weighted-average number of shares—diluted ....... 641 699 719 794 836
Cash dividends declared and paid per share .......... $ 0.40 $ 0.34 $ 0.34 $ 0.32 $ 0.32
Balance Sheet Information ($ in millions)
Merchandise inventory ............................. $ 1,620 $ 1,477 $ 1,506 $ 1,575 $ 1,796
Totalassets ....................................... $ 7,065 $ 7,985 $ 7,564 $ 7,838 $ 8,544
Workingcapital ................................... $ 1,831 $ 2,533 $ 1,847 $ 1,653 $ 2,757
Total long-term debt, less current maturities (a) ...... $—$—$—$ 50$188
Stockholders’equity ............................... $ 4,080 $ 4,891 $ 4,387 $ 4,274 $ 5,174
Other Data ($ and square footage in millions)
Purchases of property and equipment ............... $ 557 $ 334 $ 431 $ 682 $ 572
Acquisition of business, net of cash acquired (b) ...... $—$—$142$—$—
Number of Company-operated store locations open at
year-end........................................ 3,068 3,095 3,149 3,167 3,131
Number of franchise store locations open at
year-end........................................ 178 136 114 64 7
Number of store locations open at year-end (c) ....... 3,246 3,231 3,263 3,231 3,138
Percentage increase (decrease) in comparable store
sales(52-weekbasis)............................. 1% (3)% (12)% (4)% (7)%
Square footage of store space at year-end (d) ......... 38.2 38.8 39.5 39.6 38.7
Percentage increase (decrease) in square feet (d) ...... (1.5)% (1.8)% (0.3)% 2.3% 2.7%
Number of employees at year-end ................... 134,000 135,000 134,000 141,000 154,000
18 Gap Inc. Form 10-K