Gap approves $500 million share buyback program

San Francisco –- Gap Inc. has approved a new $500 million share repurchase authorization for the company’s common stock, in an effort to return excess cash to shareholders. The new $500 million repurchase program for Gap’s stock follows the company’s previous $1 billion share repurchase program.



“Through the end of the second quarter, we’re pleased to have distributed about $800 million in cash to shareholders through dividends and share repurchases,” said Sabrina Simmons, executive VP and CFO, Gap Inc. “The additional authorization to repurchase stock underscores management and the board’s continued confidence in our long-term strategy.”