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This statistic highlights Gap Inc’s Revenue Breakdown Worldwide, split across Asia, Canada, Europe and the US, reported quarterly since Q1 2016.
The company’s brands serve their customers through stores and online channels thereby allowing Gap Inc. to execute their omnichannel strategy—where, customers are allowed to shop seamlessly across all of Gap Inc.’s brands both online (through mobile devices or desktops) and in retail stores. The company’s reach spans several major geographic regions.
|Geographic Region||Q3 2020||Q2 2021||Q3 2021||
Revenue Mix by Region of Q3 2021
|United States||$ 3338||$ 3571||$ 3302||83.74%|
|Canada||$ 321||$ 313||$ 337||8.55%|
|Asia||$ 118||$ 154||$ 155||3.93%|
|Europe||$ 118||$ 118||$ 92||2.33%|
|Others||$ 29||$ 55||$ 57||1.45%|
|Total||$ 3924||$ 4211||$ 3943||100.00%|
(All figures are in millions, except percentages)
As we can infer, Gap Inc. and its brands have a global reach. They have established a foothold in several regions of the world. However, the strength of their foothold varies in each. Their primary customer market is North America (US & Canada). From the above-given timeline, the company’s total revenue peaked in Q2 2021 at $4211 million. This declined to $3943 million in the subsequent quarter thereby marking a QoQ decrease of 6.36%. The YoY rise from Q3 2020 to 2021 was a mere 0.48%.
This is the largest revenue contributing region. The company gets maximum customers from the States. From the above timeline, revenue earned peaked in the second quarter of 2021 at $3571 million. This declined by 7.5% in Q3 2021 by recording $3302 million. YoY decline from Q3 2020 to 2021 was a mere 1%. The revenue mix in Q3 2020 and Q2 2021 was around 85% each, and that in the third quarter of 2021 was 83.74%–the States thereby contributing a significant amount of revenue.
Through Canada is second to the United States in terms of contribution of revenue, the proportion contributed varies vastly. The United States’ revenue is almost tenfold that of Canada’s. In the latest quarter, this region contributed $337 million i.e. 8.55% of the respective quarterly total. Canada’s revenue in the above-represented timeline, dipped in Q2 2021 with $313 million thereby marking a subsequent QoQ rise of 7.67% to Q3 2021. Revenue grossed in Q3 2020 was $321 million which, from thereon, increased year-over-year by 4.98%.
North America (Canada & US), is, therefore, Gap Inc.’s focal revenue market as approximately 90% of their revenue is derived from these countries in this region.
Revenue grossed by Asia increases incrementally through the passing quarters. In Q3 2020, it was $118 million which rose year-over-year by 31.36% thus, recording $155 million in Q3 2021. The latest quarter contributed 3.9% to the quarterly total. This region, on average, comprises approximately 3.5% of the respective quarterly totals.
The European region’s revenue remained constant for both Q3 2020 and Q2 2021 at $118 million. The latest quarter’s revenue declined to $92 million. The QoQ and YoY decline to the latest quarter was equal and stood at 22.03%. In June 2021 Gap decided to close down all the stores in the UK and Ireland and shift to a completely online platform in these regions.
This includes regions like the Middle East and South America. This regional segment garners the least amount of revenue; which is an average of 1% of the respective quarterly totals. Others’ revenue advances through the quarters, peaking in Q3 2021 at $57 million thereby having marked a YoY rise of a remarkable 96.5% (from Q3 2020 to 2021). This implies that the revenue almost doubled in a year.
About the Company
Founded in August 1969 by Donald Fisher and Doris F. Fisher, the company is a collection of lifestyle brands that offer products such as accessories, apparel, and personal care products for both men and women, as well as children. The company’s brands include Gap, Banana Republic, Athleta brands, and Old Navy. They have an assorted range of products for women, men, and children, through their Intermix, and Janie & Jack brands. Gap Inc.’s headquarters are in San Francisco. It is listed on the NYSE under the ticker symbol ‘GPS’.
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