Gap will celebrate its 55th anniversary Aug. 22 by changing its NYSE ticker symbol to GAP from GPS, under which it has traded since 1976. | Photo courtesy of Gap
FINANCE
Gap to Celebrate 55th Anniversary With New NYSE Ticker Symbol
Gap turns 55 on Aug. 22, marking the anniversary of the opening of the brand’s original store on Ocean Avenue in San Francisco, so, to observe the occasion, the company will change from its original NYSE ticker symbol GPS to GAP. Gap team members will ring the NYSE opening bell in celebration of the milestone. The retailer will also outfit the trading floor in Gap denim and 1969 sweatshirts. In 1987, Gap celebrated in a similar manner to announce its first casual Friday when it dressed traders in its khakis and button-down shirts for a polished yet relaxed professional look.
“Updating our NYSE ticker symbol to GAP on our 55th anniversary recognizes both an important milestone and the reinvigoration journey we’re on—inspired by our past, engaged in the present and eager to shape the exciting evolution of our house of iconic American brands,” said Richard Dickson, Gap Inc. president and chief executive officer.
The company has reported that no action by its shareholders is necessary regarding the change to the GAP ticker symbol. Gap’s common stock will continue to be listed on the NYSE, and its CUSIP number will remain unchanged.
Gap Inc. will report its Q2 2024 financial results on Aug. 29. During Q1 2024, which ended May 4, Gap reported net sales of $3.4 billion, an increase of 3 percent compared to Q1 2023, which ended May 6, 2023. Gap Inc. reported net sales of $14.9 billion during fiscal year 2023.
Doris and Don Fisher launched Gap in 1969 selling men’s Levi’s jeans and music albums, followed in 1970 by a second location in San Jose, Calif., which sold women’s Levi’s. Gap Inc. launched its initial public offering on May 19, 1976, at $18 per share ($0.11 adjusted for all subsequent splits). Gap’s Aug. 14 trading session closed at $22.71. The company currently owns Old Navy, Gap, Banana Republic and Athleta under the Gap Inc. umbrella.
