GAP集团Gap Inc. (GPS) 2008年年度报告「NYSE」.pdf

1、?Dear Shareholders,In 1969,a brand was born that changed the retail landscape.The Gap,founded by Doris and Don Fisher,filled a hole in the market.It was modern.It was clean.And it was revolutionary.Over the 40 years since then,weve grown to include five brands with more than 3,100 stores around the

2、world.Weve experienced both breakthrough successes and challenging times,such as todays uncertain economic environment.The 134,000 people who make up Gap Inc.are inspired by our past and passionate about winning.We were determined to make this past year a turning point.Few companies matched our 2008

3、 financial accomplishments as our earnings improved by 16 percent year-over-year.And as a result of our financial discipline,we reduced operating expenses by about$500 million and ended the year virtually debt-free with nearly$2 billion in cash.But beyond these results,our company stands for creativ

4、ity and ingenuity.In the pages of this report,we celebrate this four-decade legacy.Our focus going forward is to make more progress,especially in delivering innovative products,so that we continue to get back to where we belong in the hearts and minds of our customers.As we know,it all started with

5、the Gap.GapClean.Classic.American design.These words described Gap four decades ago and still hold true today.At our best,we inspire customers with individual style and make classics relevant for today through our use of bold color,emotional details and great fits.With a clear brand vision and effor

6、tlessly cool product,Gap is re-connecting with its target customermen and women ages 25 to 35 looking to express their unique,personal style.Across each Gap sub-brand,we continue to evolve our assortments with a focus on what weve always been famous for:the best of casual style.More than anything,th