1. Urban Outfitters vs The Gap, Inc.

2. Major Competitors American Apparel GAP Inc. Abercrombie & Fitch Nordstroms Buckle Store NameSalesnumber of storessales per store Sales of women's clothing per store abercrombie and fitch $3,540,2761,127$3,141 $1,413 american eagle $2,988,8661,098$2,722 $1,225 the buckle $792,046391$2,026 $912 gap, inc.$14,526,0003149$4,613$2,076 $3,723 Average Sales per Store$1,676

3. Major Competitors Abercrombie and Fitch American eagle The Buckle Urban Outfitters Store NameSalesnumber of storessales per store Sales of women's clothing per store abercrombie and fitch $3,540,2761,127$3,141 $1,413 american eagle $2,988,8661,098$2,722 $1,225 the buckle $792,046391$2,026 $912 urban outfitters $1,834,618300$6,115 $2,752 gap, inc.$14,526,0003149$4,613$2,076 $3,723 Average Sales per Store$1,676

4. Urban Outfitters 20092008 Net sales1,834,6181,507,724 Gross margin713,47838.9%576,77238.3% Net Income (after tax)199,36410.87%43,7362.9% GMROI4.20420%3.35335% Inventory turnover6.615.41 Asset turnover2.943.48 Return on assets15.0%10.1% Return on net worth18.9% 5.1%

5. The Gap, Inc. 20082007 ($ 000s) Net sales14,52615,763 Gross margin5,44737.5%5,69236.1% Net Income (after tax)9676.7%8335.3% Inventory1,5061,575 GMROI3.62362%3.61361% Inventory turnover6.036.39 Asset turnover1.922.01 Return on assets12.8%10.6% Return on net worth22.0%19.5%

6. Urban Outfitters 2,0092,008 Number of stores142122 Sales per store$12,920,000$12,358,000 Square feet of retail area9,500 Employees12,50010,000 Sales per employee146,769150,772

7. The Gap, Inc. 20082007 ($ 000s) Number of stores3,1493,167 Sales per store55 Square feet of retail area39.539.6 Sales per square foot$367.75$398.06 Gross margin per sq foot$137.91$143.74 Inventory per square foot$38.13$39.77 Employees134,000141,000 Sales per employee108112

8. Geography Urban Outfitters Households: Total Households: Householder under 25 years Households: Householder under 25 years; Household income; $75;000 to $99;999 Womens Clothing stores Womens clothing stores sales Sales per store ($1,000) Clothing stores Clothing stores sales Sales per store ($1,000) Philadelphia, PA--NJ PMSA; - Wilmington--Atlantic City, PA--NJ-- DE--MD CMSA 2 1,915,18770,1362,337755814,23510781,9182,911,3561518 Los Angeles--Long Beach, CA PMSA; -Riverside--Orange County, CA CMSA 3 3,136,279142,2204,8971,6711,948,09811664,1457,017,3161693 Dallas, TX PMSA; Dallas--Fort Worth, TX CMSA 2 1,283,15683,0622,910624575,8299231,6832,465,0001465 Seattle--Bellevue--Everett, WA PMSA; Seattle--Tacoma-- Bremerton, WA CMSA 3 963,95750,9712,224267226,4508488071,595,3871977 New York, NY PMSA; New York-- Northern New Jersey--Long Island, NY--NJ--CT--PA CMSA 7 3,485,449129,5457,1233,3764,701,12213938,42914,449,1631714 Kansas City, MO--KS MSA 1 694,97137,987925185176,250953505705,7531398 Chicago, IL PMSA; -Gary-- Kenosha, IL--IN--WI CMSA 4 2,972,373124,0736,2041,1771,205,89610252,9864,529,4821517 Birmingham, AL MSA 1 361,10718,633451153123,965810399571,3991432

9. Geography Banana Republic Households: Total Households: Householder 35 to 54 years Households: Householder 35 to 54 years; $75,000+ Households per store Family Clothing stores Family Clothing Store SalesSales per store Oklahoma City, OK MSA1425,060178,48341,466 115229,0251,992 Albuquerque, NM MSA1275,065122,99631,349 62138,2072,229 Wichita, KS MSA1210,78992,27726,184 149,423673 Little Rock--North Little Rock, AR MSA1230,95599,53124,423 52140,1062,694 Kansas City, MO--KS MSA5694,971308,227102,50020,500134345,8682,581 Mobile, AL MSA1205,61185,26518,349 3378,9942,394 Galveston--Texas City, TX PMSA; Houston--Galveston--Brazoria, TX CMSA194,84043,57714,674 362989,2682,733 Salt Lake City--Ogden, UT MSA5432,113187,58165,77013,154117289,8482,477 Nashville, TN MSA5479,744213,38165,58513,117115329,7032,867 Louisville, KY--IN MSA4412,289178,59250,88912,72261139,4562,286 Denver, CO PMSA; Denver--Boulder-- Greeley, CO CMSA12825,951386,023149,38812,449189558,6892,956 Memphis, TN--AR--MS MSA5424,498190,19653,12510,625102223,4102,190 The Gap, Inc. (Banana Republic Stores)

10. Criteria Typical leased locations Minimum household count Highest Demographic indices – Household income level – Age – Education attainment Findings Free-Standing (some upscale street locations in the larger cities, i.e. New York, Chicago) 3 mi. 54,956 Higher income, with no children – $100,000+ – 25-34 – College Graduate Urban Outfitters

11. Criteria Typical leased site Minimum household count Highest Demographic indices – Household income level – Age – Education attainment Findings Enclosed Mall (some free- standing buildings in the larger cities, i.e. New York, San Francisco, etc.) 3 mi. 26,173 Higher income, matured families – $100,000+ – 45-54 – College Graduate The Gap, Inc.