GAP集团（GPS）2024年年度报告「NYSE」（英文版）（90页）.pdf

1、A Annual nnual ReportReport2024Dear Dear Shareholders,Shareholders,Fiscal 2024 was a year of meaningful progress for Gap Inc.where we continued to perform while we transform and successfully navigate a highly dynamic environment to deliver an exceptional year.Transformation of this scale takes time.

2、And Ive been incredibly proud to see us build on strength to achieve metrics that matter as we drive toward becoming a high-performing company that generates sustainable and profitable growth for our shareholders.This year,quarter after quarter,our disciplined focus on fixing the fundamentals of our

3、 business continued to improve our performance against Gap Inc.s four strategic priorities.Maintaining Financial and Operational Rigor further strengthened our financial footing in fiscal 2024,which capped our second consecutive year and eighth consecutive quarter of market share gains.Gap Inc.s fis

4、cal 2024 net sales were$15.1 billion,up 1%compared to last year,despite the loss of sales attributable to the incremental 53rd week during fiscal 2023.Comparable sales were up 3%driven by strength in Old Navy and Gap,an improved performance at Banana Republic,and stabilization at Athleta.Our continu

5、ed focus on controlling the controllables resulted in operating expenses down 2%compared to last year.Additionally,we ended fiscal 2024 with a gross margin of 41.3%,one of our highest in the last 20 years and an expansion of 250 basis points versus last year;and an operating margin of 7.4%.Financial

6、 and operational rigor also delivered fiscal 2024 diluted earnings per share of$2.20-our highest since 2018.And we ended the year with cash,cash equivalents,and short-term investments of$2.6 billion,an increase of 38%from the prior year.Reinvigorating Our Brands is about driving relevance and revenu