The Gap, Inc. (NYSE:GPS) Q3 2019 Earnings Conference Call - Final Transcript

Nov 21, 2019 • 05:00 pm ET


The Gap, Inc. (NYSE:GPS) Q3 2019 Earnings Conference Call - Final Transcript


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Teri List-Stoll

brand, we closed 21 stores, primarily in North America, net of openings primarily in Asia. We ended the quarter with 3,938 company-operated stores. We now expect 15 net store closures for the year as we accelerate the pace of openings at Athleta and completed some opportunistic openings of Gap outlets in China.

Before I open up the call for your questions, many of you already know that Tina Romani, our Head of Investor Relations, will be moving on to a new opportunity outside of Gap Inc. On behalf of the entire team, I want to express our gratitude for everything she has brought to this role, her great technical ability but also her quick laughter and everything she's done for the Company over the past seven years. She'll be missed. I'd like to take this opportunity to welcome Katina Metzidakis, whose name I'll always stumble over, who will be assuming the Head of IR role. Katina has over a decade of experience, primarily as a sell-side analyst and more recently in Investor Relations. She joined Gap Inc. three months ago and working closely with Tina and is off to a great start. Please join me in congratulating both of them and please reach out to Katina and the team on any investor communications going forward.

So let me close by reiterating Bob's comments. We have a clear view of where our brands need to improve and appropriate clarity and urgency about the path forward. Our conviction on the opportunities remains strong.

With that, we'll open it up for questions.