Question: Access EDGAR online (www.sec.gov) and locate the 10-K report of The Gap, Inc., (ticker GPS) filed on March 26, 2010. Review its financial statements reported for the year ended January 30, 2010, to answer the following questions.
Required: 1. What are Gap's main brands?
2. What is Gap's fiscal year-end?
3. What is Gap's net sales for the period ended January 30, 2010?
4. What is Gap's net income for the period ended January 30, 2010?
5. Compute Gap's profit margin for the year ended January 30, 2010.
6. Do you believe Gap's decision to use a year-end of late January or early February relates to its natural business year? Explain.