GAP集团Gap Inc. (GPS) 2003年年度报告「NYSE」.pdf

1、2003 ANNUAL REPORT Two Folsom StreetSan Francisco,CA GAP INC.2003 ANNUAL REPORT R3_gap_COVERTOPRINT.qxd 03/22/04 4:29 PM Page 1GAP BANANA REPUBLIC OLD NAVYREPORT CREDITS Gap Inc.2004Printed in the U.S.A.on recycled paper.For this Annual Report,we have selected an environmentally responsible printer

2、that has a zero landfill policy,recycles all process material waste and has an enclosed printing facility with negligible fugitive emissions.Design:O&J Design,Inc.Photography:Pages 4,58,59 portrait photos 2004 Eric Millette Printing:Lithographix,Inc.R3_gap_COVERTOPRINT.qxd 03/22/04 4:29 PM Page 2GAP

3、 INC.2003 ANNUAL REPORT We make it easy for you to express yourpersonal stylethroughout your life.REVIEWChairman Message to Shareholders 03CEO Letter to Shareholders 04Financial Highlights 08 Real Estate 10Gap 12Banana Republic 14Old Navy 16Social Responsibility 18FINANCIALS 21GAP INC.table of conte

4、ntstable of contentsR5_gap_narrative_f.qxd 03/22/04 7:37 PM Page 1GAP BANANA REPUBLIC OLD NAVYGAP INC.2003 ANNUAL REPORT 3message to shareholdersFROM CHAIRMAN AND FOUNDER DONALD G.FISHERGap Inc.celebrates its 35th anniversary in 2004,and Im moreconfident than ever about our prospects.With the compan

5、ystronger,Ive decided to step down as Chairman in May 2004.As I said when first announcing my decision late last year,I cantthink of a more appropriate time.I plan to stay on the Board as a director,and will continue as an advisor and employee of thecompany in the role of Founder and Chairman Emerit

6、us.The Board appointed Robert J.Fisher as our new non-executiveChairman,effective following the companys annual meeting ofshareholders in May.The appointment was based on therecommendation of the Boards Governance,Nominating andSocial Responsibility Committee;only independent directorscomprise the c