Gap Inc. (NYSE: GPS) announced today it is donating more than $1 million to help victims of Hurricane Sandy, which struck the East Coast earlier this week and caused widespread damage and destruction.
Upon the request of the American Red Cross for much-needed clothing, Gap Inc. will donate more than $250,000 worth of clothing, which will be distributed tomorrow in New Jersey, one of the areas hit the hardest by this week’s superstorm. In addition, the company will donate $750,000 cash to provide critical help and necessities for those in affected areas.
“Our hearts go out to all those affected by Hurricane Sandy, including thousands of our employees throughout the region,” said Glenn Murphy, Chairman and Chief Executive Officer of Gap Inc. “We are proud to support the good work being done by the American Red Cross, and hope these contributions will make a difference in the lives of those who are suffering.”
As the relief efforts continue over the coming weeks and months, Gap Inc. is prepared to engage in the long-term recovery efforts, including identifying further in-kind donations. In addition, Gap Inc. continues to conduct direct outreach to assist its affected employees and has provided employees across the globe with information about how they can contribute to the recovery efforts through individual donations and volunteer efforts.About Gap Inc. 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 2011 net sales were $14.5 billion. Gap Inc. products are available for purchase in about 90 countries worldwide through about 3,000 company-operated stores, about 250 franchise stores, and e-commerce sites.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV