| ★ wanayoo — archive 1999 http://www.gapinc.com/performance/news_releases/feb24_00_other.htm | Nouvelle recherche | Portail wanayoo |
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GAP INC. ANNOUNCES REPORTING CHANGES
FOR COMPARABLE STORE SALES AND STORE COUNT
SAN FRANCISCO, CA, -- Feb. 24, 2000 -- Gap Inc. (NYSE:GPS) today announced changes in how the company reports comparable store sales for Gap, Banana Republic and Old Navy, and store count for Gap brand. New Comparable Stores Sales Categories Beginning with fiscal 2000, Gap Inc. will begin reporting comparable stores sales by brand with Gap International shown separately. The new categories for comparable store sales are as follows:
Previously, the company reported comparable store sales for Gap, GapKids, Banana Republic and Old Navy, but did not provide results for our international and outlet businesses. Our online and catalog divisions are not included in the comparable store sales results. Please refer to attachment A for a restatement of comparable store sales for fiscal 1999 in the new categories. New Store Count Methodology Beginning with fiscal 2000, Gap Inc. will change the store count methodology as it relates to Gap brand. Historically, the company has defined existing and new Gap brand stores by the number of doors of entry, regardless of how many concepts were included in the store. Under this new methodology, individual concepts (Adult, Kids, Baby and Body) that meet minimum square footage requirements will be counted as a store, even when residing within a single, physical location. Additionally, we will report our store count and square footage in the same categories that we will report comparable store sales. Store count and square footage for fiscal 1999 and 1998 using the new methodology and categories is as follows:
For a detailed breakdown of the revised store count for fiscal 1999, please refer to attachment B. Forward-Looking Statements The information made available in this press release contains certain forward-looking statements that reflect Gap Inc.'s current view of future events and financial performance. Wherever used, the words "expect," "plan," "anticipate," "believe" and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties and the company's future results of operations could differ materially from historical results or current expectations. Some of these risks include, without limitation, ongoing competitive pressures in the apparel industry, risks associated with challenging international retail environments, changes in the level of consumer spending or preferences in apparel, trade restrictions and political or financial instability in countries where the company's goods are manufactured, disruption to operations from Year 2000 issues and/or other factors that may be described in the company's annual report on Form 10-K and/or other filings with the Securities and Exchange Commission. Future economic and industry trends that could potentially impact revenues and profitability are difficult to predict. Attachment A Revised Fiscal 1999 Comparable Store Growth Using New Categories
Legend
Attachment B Revised Fiscal 1999 Store Count Using New Methodology
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