GAP集团（GPS）2023年年度报告「NYSE」（英文版）（92页）.pdf

1、2023ANNUAL ANNUAL REPORTREPORTDEAR DEAR SHAREHOLDERS,SHAREHOLDERS,In my first letter to you as CEO of Gap Inc.,I want to begin by thanking you for your support of this remarkable Company.Its impossible to ignore the impressive scale of Gap Inc.We have four iconic brands with nearly 2,600 Company ope

2、rated stores.We are the#2 player in US apparel ecommerce.And we have millions of customers who rely on us for fashion that both functions and makes them feel good.While fiscal 2023 was a year marked by volatility for most of the industry,it was also a turning point for Gap Inc.The comprehensive tran

3、sformation effort,kick-started by then interim CEO and Executive Chair,Bobby Martin,was a big factor in Gap Inc.s fiscal 2023 performance,successfully setting us on a path to strengthen Gap Inc.s financial footing.In August,I was proud to be appointed CEO,to lead Gap Inc.into a new era.Since then,we

4、 have continued to build on progress to strengthen our financial footing,and we are resetting our Company strategy with an aspiration to become a high-performing house of iconic American brands guided by four clear strategic priorities:maintaining financial and operational rigor,reinvigorating our b

5、rands,strengthening our platform,and energizing our culture.Maintaining financial and operational rigor strengthened our financial footing in fiscal 2023 and demonstrated that we can drive more efficiency and productivity throughout the Company.Specifically,our focus on controlling the controllables

6、 delivered cost savings,gross margin expansion,and a significant improvement in operating margin.Rigor also resulted in better working capital and a stronger balance sheet at year end.As we begin fiscal 2024,our continued emphasis on maintaining rigor in the business will enable us to focus more int