Gap Group Has More Than 200 Gap Brand Stores In Greater China

On March 4, U.S. local time, gap group, a retail clothing enterprise, released its performance reports for the fourth quarter and fiscal year of 2020. The comparable sales in the fourth quarter of 2020 were the same as those of the previous year, of which online sales increased by 49%, and the net value in that quarter was $234 million.

According to the data, in the fourth quarter of fiscal year 2020, gaipu achieved a net sales of US $4.42 billion, a year-on-year decrease of 5.9%. Under effective cost control, the company recorded a net sales of $234 million in the same period, successfully turning losses into profits. Diluted earnings per share for the fourth quarter were $0.61. The number of customers increased by 14% in the fourth quarter, reaching 183 million in the whole year.

At the same time, the company's annual online sales revenue reached 6 billion US dollars, accounting for 45% from 25% in 2019, accounting for 54% of the annual sales growth.

In terms of brands, the comparable sales of Old Navy increased by 7% in the fourth quarter, gap comparable sales decreased by 6%; comparable sales of Banana Republic fell by 22%; comparable sales of ATHLETA increased by 26% and net sales increased by 16%, successfully reaching the level of sales of $1 billion last year.

By the end of fiscal year 2020, gap group's share in the U.S. apparel market reached 5.5%, an increase of 0.2% over the previous year; the company held cash, cash equivalents and short-term investment totaled $2.4 billion. Gap group has net sales of $13.8 billion in fiscal year 2020.

According to the report, as of the end of fiscal year 2020, the company has 3715 stores in 45 countries, including 3100 self operated stores.

"We've had the toughest year in the history of our company, and during this year, our team overcame the problems never seen in the history of the industry, demonstrated resilience and determination, and opened the way for long-term growth. Our strong brands are attacking with the advantages of target oriented marketing and related categories (such as sweater, panty and fleece Series), enabling us to gain meaningful market share growth quarter by quarter in a fragmented environment. Thanks to our $6 billion online business and our unique digital capabilities, we have been able to serve more than 183 million customers this year. " Said Sonia syngal, chief executive of gap group. "We focus on implementing the 2023 momentum plan to achieve profitable growth in 2021."

Gap group entered the Chinese market in November 2010 and set up its headquarters in Shanghai.

At present, gap group has more than 200 gap brand stores in Greater China, covering about 40 cities including Shanghai, Beijing, Shenzhen, Guangzhou, Taipei, Chengdu, Hangzhou, Nanjing, Xi'an, Urumqi, Shenyang, Wuhan, Chongqing, Suzhou, Foshan, Sanya, Kunshan and Huzhou.