The Change to the Group’s NYSE Ticker Arrives on Gap’s 55th Anniversary
Gap Inc., the conglomerate that also owns the Old Navy, Banana Republic, and Athleta brands, has unveiled plans to alter its ticker symbol. Currently known as ‘GPS’ on the New York Stock Exchange, the company will switch to ‘GAP’ effective from August 22.
The company’s common shares are traded on the New York Stock Exchange. On August 22, an auspicious day linked to the company’s past, the update will officially come into effect. The original Gap store was unveiled on Ocean Avenue in San Francisco on this exact date in 1969.
Commenting on the forthcoming change, Gap Inc. President and CEO Richard Dickson said in a statement,
Updating our NYSE ticker symbol to GAP on our 55th anniversary recognizes both an important milestone and the reinvigoration journey we’re on — inspired by our past, engaged in the present, and eager to shape the exciting evolution of our house of iconic American brands.”
In a tribute to the iconic date, Gap will celebrate the 55th anniversary by setting a special tone on the NYSE. The trading floor will be dressed in Gap’s signature denim and 1969 sweatshirts, which is reminiscent of 1987, when Gap introduced its first casual Friday at the exchange, dressing traders in khakis and informal button-down shirts. In keeping with the tradition, Gap team members are set to ring the NYSE opening bell this year.
The upcoming ticker symbol change does not require any action on part of the company’s shareholders. As per the schedule, Gap Inc. is set to disclose its financial results for the second quarter of fiscal 2024 on August 29.