GAP GIFT: Gap Inc. is giving a surprise bonus of $300 to 70,000 frontline workers at its stores, distribution centers and customer contact centers.
The San Francisco-based operator of the Gap, Old Navy, Banana Republic and Athleta brands said in an announcement Tuesday: “As our first-quarter earnings demonstrate, we’re building off our momentum in 2020 and continuing to deliver strong results. This success speaks to the culture of performance and accountability we’re driving toward, which includes creating opportunities for employees at all levels to share in our company’s success, ensuring that when we win, we win together.
“In this spirit, today we want to honor our frontline team members…who served as the lifeblood of our business through acute COVID-19 impacts and delivered an incredible experience for our customers through it all.”
The $300 bonuses are being extended to about 70,000 eligible hourly employees in the U.S., Canada, Japan, U.K., the Republic of Ireland and Italy.
Gap credited its workers around the world for “quickly learning new ways of working with health and safety protocols, to adapting to a surge in demand for online and in-store services like ship from store, buy online, pick up in store and curbside pickup, our employees’ commitment and determination helped us get through a year like no other and we are coming out of it stronger than ever, together.”
Gap Inc. posted a net profit of $166 million for the first quarter ended May 1, versus a loss of $932 million in the year-ago period. Net sales rose 89 percent to $3.99 billion from $2.11 billion a year ago, and were 8 percent above the 2019 quarter. Comparable sales were up 28 percent year-over-year, and up 13 percent from 2019.