The fourth quarter effective tax rate reflects non-cash tax impacts related to restructuring and impairment charges incurred in the quarter, which resulted in an increase to the effective tax rate of approximately 8 percentage points. Fiscal year 2019 gross margin was 37.4%, a decrease of 70 basis points compared with last year. Fiscal year 2019 gross profit was $6.13 billion, a decrease of 3% compared with last year. Accelerated Filers: Third quarter interim financial statements go stale at the close of business on March 16* (updated annual audited financial statements must be included when the gap between the date of effectiveness of the registration statement and the date of the fiscal year end is more than 75 days). Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. For the last five years Gap Inc had an average revenue decline of 0% a year. Gap Inc. is the largest specialty apparel company and the second largest apparel e-commerce business in the U.S. Fiscal year 2019 net sales were $16.4 billion, a decrease of 1% compared with last year. Investor Relations Contact: Forward-Looking Statements SAN FRANCISCO, CA … For more information, please visit www.gapinc.com. Please review the Financial Calendars webpage to see current, future, and previous Fiscal Calendars. “I’m fortunate to have had her as a partner in leading Old Navy over the past three years, as we defined the growth roadmap for the brand, and I look forward to working alongside her in this new capacity.”. An F-1 student who is the beneficiary of a cap-subject H-1B petition and request for change of status that is filed on time may have their F-1 status and any current employment authorization extended until the first day of the new fiscal year. The U.S. budget gap totaled $389 billion from October through January, compared with $310 billion in the same period a year earlier, the U.S. Treasury Department said. About Gap Inc. Gap Inc. ended third quarter fiscal year 2020 with $2.6 billion in cash , cash equivalents, and short-term investments, compared to $1.1 billion at the end of the third quarter in fiscal year 2019, providing ample liquidity to support the company’s long-term growth strategy. Effective Tax Rate. “Final Close” begins at 2:00PM on DAY +5. Thanks to their efforts, we began to see stabilization in our … The translation of foreign currencies into U.S. dollars positively impacted the company’s net sales for the fourth quarter of fiscal year 2019 by about $7 million and negatively impacted the company’s net sales for fiscal year 2019 by about $61 million. For fiscal year 2019, the company repurchased 10.4 million shares for $200 million and ended fiscal year 2019 with 371 million shares outstanding. For instance, if your organization has recently completed a SOC 1 report which covers the period from November 1 st, 2019 through October 31 st, 2020. Effective Date: July 2012(Supersedes 200.010). For the latest fiscal year the company reported a revenue of $16.6 billion, an increase of 4.6% from last year. Please see the reconciliation of adjusted diluted earnings per share, a non-GAAP financial measure, from the GAAP financial measure in the tables at the end of this press release. Each fiscal year is divided into four quarterly accounting/reporting periods. The fiscal year 2020 guidance largely does not incorporate any estimated impact from the coronavirus outbreak, with the exception of approximately $100 million in sales or $0.10 in diluted earnings per share for the first quarter impact in Asia and Europe. All statements other than those that are purely historical are forward-looking statements. This press release and related conference call and webcast contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. (NYSE: GPS), a collection of purpose-led lifestyle brands including Old Navy, Gap, Banana Republic and Athleta, reported its financial results for the third quarter of fiscal year 2020, ending October 31. Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2019, as well as the company’s subsequent filings with the Securities and Exchange Commission. Gap defines the DUKE ( University and Health System ) fiscal year 2019 results work plans are January! Revenue of $ 16.6 billion, an increase of 3 % compared with last year 194.06 % last! ) months quarterly accounting periods represent the time period in which all transactions occurring within the calendar are! 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