Gap Inc. is one of the most popular and famous clothing companies in the United States of America. With its annual revenue of 15.7 billion U.S. dollars and 3,263 locations in the world, it gained many customers. Along with many other clothing brands in the United States of America, Gap Inc. is visited by millions of individuals. All of them are both American citizens and foreigners. Going deeply into the history of the retailer, Gap was founded back in 1969 by Doris F. Fisher and Donald Fisher. Analyzing the company’s presence (stores, advertising, online, global), its headquarters are in San Francisco, California.
There are many retail advertisements on the television. However, taking into account the company’s popularity, advertising is not necessary, since Gap has already gained its publicity and become irreplaceable to a certain extent for many customers. Those citizens, who cannot spend too much time on shopping, prefer buying goods online. On the global scale, Gap Inc. is one of the biggest clothing suppliers in the United States along with many other retailers, such as J.C. Penny, Old Navy, Nautica, and many others.
As far as store layouts and locations are concerned, Gap has its branches and representatives in the following countries: Bulgaria, Philippines, Australia, Puerto Rico, Qatar, Armenia, Romania, Azerbaijan, Bahrain, Uruguay, Russia, Canada, Chile, Colombia, Saudi Arabia, Croatia, Singapore, Cyprus, Egypt, Turkey, El Salvador, France, Ukraine, Georgia, Greece, Hong Kong, India, Indonesia, United Arab Emirates, Ireland, Israel, Italy, Japan, Jordan, Kazakhstan, Kuwait, Malaysia, Mexico, United Kingdom, Morocco, Oman, Panama, Pakistan, Peru, Poland, People’s Republic of China, Serbia, South Africa, South Korea, Thailand, and finally the United States.
On October 13, the retailer made announcements concerning its plans to close about 189 stores in the United States by 2014. It implies that over twenty-one percent of the whole number of the United States’ stores will close. There will be approximately 700 stores in the country by 2014 out of 1056 opened in 2007. The locations of the stores that will stop their existence have been not known yet. However, it is obvious that the stores, which are not doing well, will be closed first.
Nowadays, none of the outlets of Gap stores is included in the list of the reduction plan. Moreover, by the end of 2013, there will be fifty new Gap outlet stores. Despite the fact that many stores have been downsized, they will not be closed in the U.S. There are a lot of Gap them in Warwick, Newport, Smithfield, Cranston, and Providence. Local officials have not commented on closing any of these stores yet.
Because of the lack of efficiency in the operation of certain Gap stores and cutting 20% of the ones in the U.S., advertising efforts and online presence both on the Facebook page and globally are more than a reasonable and wise solution to make. If the stores do not bring much profit, they will close within a year. Opening new ones elsewhere (both in the U.S. and abroad), where a high number of clients are interested in new clothing brands, brings a lot of profit and increases the overall Gap’s annual revenue.
Nowadays, Gap feels confident after a stable last year. The net income grew from 1.1 billion to 15.7 billion dollars a year. Its comparable sales have ascended up to five percent. The company is obviously doing well. It is likely to increase its revenue in the nearest future. Without doubt, Gap clothing is one of the most popular types of clothes in the U.S.
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