Can It Develop a Strategy to Connect with Consumers in 2017?
It is early 2021 and the Board of Directors of The Gap, Incorporated has employed you as a consultant to assess the company’s overall situation and recommend a set of actions to improve the company’s competitive position. In May of 2020, the company was preparing to reopen 800 of their store locations (including Gap, Banana Republic, Old Navy, and Athleta stores) in the United States. Company stores were in various states of closure and/or reopening throughout the rest of the world. Commenting on the current state of affairs for Gap, Inc. in Fiscal 2020, new Gap CEO Sonia Syngal said, “While the full impact and duration of the COVID-19 outbreak is unknown, we are better positioned than most in retail apparel to navigate the uncertainty ahead.”
Even prior to the global pandemic, the performance of the company in Fiscal 2019 had been below investor expectations, and the company’s stock price continued to disappoint. “Our performance has been lackluster over the last several years,” said CEO Syngal, “Simply put, we have fallen short on execution and have not fully monetized our brands, our assets and the capabilities we have been investing in.”
Now, in early 2021, all of Gap’s stores were struggling to re-open. Further, the company had stopped paying rent to its store landlords, saving roughly $115 million for the company in North America thus far in 2021.
Historically, The Gap has grown both sales and earnings by 7% per year, and the Board of Directors have set these as firm objectives for the company going forward. Prepare a report that makes a list of action recommendations that The Gap, Inc. needs to follow into order to return the company back to its historical rate of sales and earnings growth.
When making your recommendations to the Board, it is important that you make recommendations and set benchmarks in the following areas:
(1) Corrective action/actions at The Gap flagship stores
(2) Growth plans for both Old Navy and Athleta stores
(3) A recommendation regarding the overall portfolio of companies at The Gap, Inc.
Please present the Board with a 3-page Executive Summary detailing the areas of The Gap, Inc. that need to improve, focusing specifically on the areas identified above, as well as your recommendations to improve the company’s overall performance.
**The expectation is you will SUBMIT at least THREE recommendations. Your recommendations need to be feasible and realistic , please do not submit a long list of short unrealistic recommendations.
Your report should be prepared as a 3-page Executive Summary of Recommendations.
Your financial recommendations should be specific and contain numerical, time-based targets and be clearly supported by your analysis of the company’s situation. Provide a timeline to implement your recommendations and project an approximate turnaround for Gap.
You may supplement your 3 page summary with an appendix that contains (a) an analysis of the company’s financial statements and/or pro-forma financial projections and (b) other appendices that you consider appropriate. A Table of References to sources that you use in your Executive Summary is required. Please utilize the attached Executive Summary Template to create your Executive Summary.
Executive Summary Submission:
• Create your executive summary as a Word document. Please use Times New Roman, 12pt. Font, 1.25 Space.
• Three pages MAXIMUM for your Executive Summary of Recommendations. This three-page maximum does not include any Appendices or the Reference list.
• It is required that you cite your sources in your report and provide a reference list in your appendices.
• Please use the Executive Summary template that is provided to make your recommendations.
Sample Executive Summary outline
Start with a brief summary of the company . Restate the purpose of the report and highlight the major points of this report.
An executive summary should be aimed at an audience that is interested in and wants to learn more about the purpose of the main business report. In this case, you are writing for the Board of Directors, your presentation/organization and research of current financial/strategic conditions will be important.
In the introduction, the writer succinctly states the purpose of the report and highlights the major points.
points need to include the issues that are being faced by the company you are researching.
What is problem #1, how did it originate ?
** Do not forget the benchmarks you need to focus on (from the case study)
What has been the impact?
Loss of sales, loss of market, etc.
What do you, as the hired consultant, recommend?
Each recommendation needs to be based on the current company financial situation and include feasible timelines and costs and be supported by analysis of the company’s situation.
What are the expected returns and by when?
Last, please don’t forget to complete the Case Research Assignment worksheet (see attachment)
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