<SEC-DOCUMENT>0001181431-11-027410.txt : 20110505
<SEC-HEADER>0001181431-11-027410.hdr.sgml : 20110505
<ACCEPTANCE-DATETIME>20110505151650
ACCESSION NUMBER:		0001181431-11-027410
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110505
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110505
DATE AS OF CHANGE:		20110505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GAP INC
		CENTRAL INDEX KEY:			0000039911
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-FAMILY CLOTHING STORES [5651]
		IRS NUMBER:				941697231
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0129

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07562
		FILM NUMBER:		11814307

	BUSINESS ADDRESS:	
		STREET 1:		TWO FOLSOM STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94105
		BUSINESS PHONE:		6509524400

	MAIL ADDRESS:	
		STREET 1:		TWO FOLSOM STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GAP STORES INC
		DATE OF NAME CHANGE:	19850617
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd310510.htm
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			Prepared By R.R. Donnelley Financial -- Form 8-K
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				<b>UNITED STATES </b>
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				<b>SECURITIES AND EXCHANGE COMMISSION</b>
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				<b>Washington, D.C. 20549</b>
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				<b>Form 8-K </b>
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				<b>CURRENT REPORT</b>
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				<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b>
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				<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;05/05/2011 </b>
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				<b>The Gap, Inc.</b>
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				<b>(Exact name of registrant as specified in its charter)</b>
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				<b>Commission File Number:&nbsp;&nbsp;1-7562</b>
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								<b>Delaware</b>
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							&nbsp;&nbsp;
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								<b>94-1697231</b>
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								<b>(State or other jurisdiction of</b>
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							&nbsp;&nbsp;
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								<b>(IRS Employer</b>
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								<b>incorporation)</b>
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							&nbsp;&nbsp;
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								<b>Identification No.)</b>
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				<b>2 Folsom Street</div><div Align="center">San Francisco, CA 94105</b>
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				<b>(Address of principal executive offices, including zip code)</b>
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				<b>(650) 952-4400</b>
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				<b>(Registrant&#146;s telephone number, including area code)</b>
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				<b> </b>
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				<b>(Former name or former address, if changed since last report)</b>
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			<b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR><BR></b>
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			<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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				<b>Item 2.02.&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition</b>
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				On May 5, 2011, The Gap, Inc. (the "Company") issued a press release announcing the Company's sales for the fiscal month and quarter ended April 30, 2011.  A copy of this press release is attached hereto as Exhibit 99.1.
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				<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b>
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				99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  Press Release dated May 5, 2011
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			<b>SIGNATURES</b>
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			Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
			duly authorized.
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							The Gap, Inc.
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							Date: May 05, 2011
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							By:
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					&nbsp;
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						/s/&nbsp;&nbsp;&nbsp;&nbsp;Sabrina Simmons</font>
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						Sabrina Simmons</font>
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						Executive Vice President and Chief Financial Officer
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			<b>EXHIBIT INDEX</b>
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								<b>Exhibit&nbsp;No.</b>
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								<b>Description</b></font>
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								EX-99.1
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						<font Face="times New Roman" Size="2">&nbsp;&nbsp;</font>
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								Press Release dated May 5, 2011</font>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>rrd310510_34882.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 5, 2011
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<B><FONT size=2 face="sans-serif">Exhibit 99.1</FONT></B><BR>
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<B><FONT size=2 face="sans-serif">GAP INC. REPORTS APRIL SALES</FONT></B><BR>
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<FONT size=2 face="sans-serif">SAN FRANCISCO &#150; May 5, 2011 &#150; Gap Inc. (NYSE: GPS) today reported that April 2011 net sales increased 10 percent compared with last year. </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Net sales for the four-week period ended April 30, 2011 were &#36;1.15 billion compared with net sales of &#36;1.05 billion for the four-week period ended May 1, 2010. The company&#146;s comparable sales for April
2011, which include the associated comparable online sales, were up 8 percent compared with a 2 percent decrease in April 2010. </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&#147;While our overall April performance was solid, we&#146;re very focused on driving improvement across all of our businesses in North America, as we also continue to grow internationally and online,&#148; said
Glenn Murphy, chairman and CEO of Gap Inc. </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">In addition, the company reported that net sales for the first quarter, which ended April 30, 2011, decreased 1 percent to &#36;3.30 billion compared with &#36;3.33 billion for the first quarter last year. The
company&#146;s first quarter comparable sales, which include the associated comparable online sales, were down 3 percent compared with a 5 percent increase in the first quarter of the prior year. </FONT></P>
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<TABLE><TR><TD nowrap>
<B><FONT size=2 face="sans-serif">First Quarter Guidance</FONT></B><BR>
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<FONT size=2 face="sans-serif">The company expects diluted earnings per share for the first quarter of fiscal year 2011 to be in the range of &#36;0.38 to &#36;0.39 with merchandise margins significantly down.</FONT></P>
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<TABLE><TR><TD nowrap>
<B><FONT size=2 face="sans-serif">First Quarter Comparable Sales Results</FONT></B><BR>
</TD></TR></TABLE>
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<FONT size=2 face="sans-serif">Comparable sales for the first quarter of fiscal year 2011, including the associated comparable online sales, were as follows:</FONT></P>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">Gap North America: negative 3 percent versus positive 3 percent last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">Banana Republic North America: negative 1 percent versus positive 6 percent last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">Old Navy North America: negative 2 percent versus positive 6 percent last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">International: negative 6 percent versus flat last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
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<TABLE><TR><TD nowrap>
<B><FONT size=2 face="sans-serif">April Comparable Sales Results</FONT></B><BR>
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<FONT size=2 face="sans-serif">Comparable sales for April 2011, including the associated comparable online sales, were as follows:</FONT></P>
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<TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">Gap North America: positive 2 percent versus negative 6 percent last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">Banana Republic North America: positive 11 percent versus flat last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">Old Navy North America: positive 14 percent versus flat last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">International: negative 1 percent versus negative 5 percent last year</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
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<B><FONT size=2 face="sans-serif">1 of 3</FONT></B></P>

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<FONT size=2 face="sans-serif">For more detailed information, please call 1-800-GAP-NEWS (1-800-427-6397) to listen to Gap Inc.&#146;s monthly sales recording. International callers may call 706-634-4421.</FONT></P>
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<FONT size=2 face="sans-serif">Gap Inc. will release its first quarter earnings via press release on May 19, 2011, at 1:00 p.m. Pacific Time. In addition, the company will host a summary of Gap Inc.&#146;s first quarter results in a live conference
call and webcast at approximately 2:00 p.m. Pacific Time. The conference call can be accessed by calling 1-800-374-0168, and international callers may dial 706-634-0994. The webcast can be accessed at www.gapinc.com.</FONT></P>
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<B><FONT size=2 face="sans-serif">May Sales</FONT></B><BR>
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<FONT size=2 face="sans-serif">The company will report May sales on June 2, 2011.</FONT></P>
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<B><FONT size=2 face="sans-serif">Forward-Looking Statements</FONT></B><BR>
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<FONT size=2 face="sans-serif">This press release and related sales recording contain forward-looking statements within the &#147;safe harbor&#148; provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those
that are purely historical are forward-looking statements. Words such as &#147;expect,&#148; &#147;anticipate,&#148; &#147;believe,&#148; &#147;estimate,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;project,&#148; and similar expressions also
identify forward-looking statements. Forward-looking statements include statements regarding the following:</FONT></P>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">Driving improvement in North America;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">International and online growth; and</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">Diluted earnings per share and merchandise margins for the first quarter of fiscal year 2011.</FONT>	</TD>
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<FONT size=2 face="sans-serif">Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the Company&#146;s actual results to differ materially from those in the forward-looking
statements. These factors include, without limitation, the following: </FONT></P>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that additional information may arise during the company&#146;s close process or as a result of subsequent events that would require the company to make adjustments to the financial information;</FONT>	</TD>
</TR>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">the risk that changes in general economic conditions or consumer spending patterns will have a negative impact on the company&#146;s financial performance or strategies;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the highly competitive nature of the company&#146;s business in the United States and internationally;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that the company will be unsuccessful in gauging fashion trends and changing consumer preferences;</FONT>	</TD>
</TR>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that the company&#146;s efforts to expand internationally may not be successful and could impair the value of its brands;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">the risk that the impacts of the March 2011 earthquake, tsunami and nuclear crisis in Japan, including damage to stores and infrastructure, and reduced consumer spending, will have adverse effects on the company&#146;s
business, financial position and strategies;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">the risk that the company&#146;s franchisees will be unable to successfully open, operate, and grow the company&#146;s franchised stores;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">the risk that the company will be unsuccessful in identifying, negotiating, and securing new store locations and renewing or modifying leases for existing store locations effectively;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that comparable sales and margins will experience fluctuations;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that the company will be unsuccessful in implementing its strategic, operating and people initiatives;</FONT>	</TD>
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<B><FONT size=2 face="sans-serif">2 of 3</FONT></B></P>

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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that changes in the company&#146;s credit profile or deterioration in market conditions may limit its access to the capital markets;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that trade matters, sourcing costs, events causing disruptions in product shipments from China and other foreign countries, or an inability to secure sufficient manufacturing capacity may disrupt the
company&#146;s supply chain or operations, or impact its financial results;</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that updates or changes to the company&#146;s information technology (&#147;IT&#148;) systems may disrupt its operations;</FONT>	</TD>
</TR>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="sans-serif">the risk that acts or omissions by the company&#146;s third-party vendors, including a failure to comply with the company&#146;s code of vendor conduct, could have a negative impact on its reputation or operations;
and</FONT>	</TD>
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<FONT size=2 face="serif">&middot;</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="sans-serif">the risk that the company will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits.</FONT>	</TD>
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<FONT size=2 face="sans-serif">Additional information regarding factors that could cause results to differ can be found in the Company&#146;s Annual Report on Form 10-K for the fiscal year ended January 29, 2011.</FONT></P>
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<FONT size=2 face="sans-serif">Forward-looking statements are based on information as of May 5, 2011. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear
that any projected results expressed or implied therein will not be realized.</FONT></P>
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<B><FONT size=2 face="sans-serif">About Gap Inc.</FONT></B><BR>
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<FONT size=2 face="sans-serif">Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands.
Fiscal year 2010 net sales were &#36;14.7 billion. Gap Inc. products are available for purchase in over 90 countries worldwide through about 3,100 company-operated stores, about 175 franchise stores, and e-commerce sites. For more information,
please visit www.gapinc.com.</FONT></P>
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<B><FONT size=2 face="sans-serif">Investor Relations Contact:</FONT></B><BR>
<FONT size=2 face="sans-serif">Mike Jenkins</FONT><BR>
<FONT size=2 face="sans-serif">(415) 427-4454</FONT><BR>
<FONT size=2 face="sans-serif">investor_relations@gap.com</FONT><BR>
<BR>
<B><FONT size=2 face="sans-serif">Media Relations Contact:</FONT></B><BR>
<FONT size=2 face="sans-serif">Emily Russel</FONT><BR>
<FONT size=2 face="sans-serif">(415) 427-6230</FONT><BR>
<FONT size=2 face="sans-serif">press@gap.com</FONT><BR>
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<B><FONT size=2 face="sans-serif">3 of 3</FONT></B></P>

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