Gap Inc. Reports August Sales Results

SAN FRANCISCO - September 03, 2015 - (BUSINESS WIRE) - Gap Inc. (NYSE: GPS) today reported that net sales for the four-week period ended August 29, 2015 decreased 3 percent to $1.20 billion compared with net sales of $1.23 billion for the four-week period ended August 30, 2014.

“We’re pleased that Old Navy delivered another strong month of positive comps driven by a healthy back-to-school business, as we remain focused on improving product performance across our portfolio”

On a constant currency basis, August 2015 net sales were flat compared with last year. In calculating the net sales change on a constant currency basis, current year foreign exchange rates are applied to both current year and prior year net sales. This is done to enhance the visibility of underlying sales trends, excluding the impact of foreign currency exchange rate fluctuations.

“We’re pleased that Old Navy delivered another strong month of positive comps driven by a healthy back-to-school business, as we remain focused on improving product performance across our portfolio,” said Sabrina Simmons, chief financial officer, Gap Inc.

August Comparable Sales Results

Gap Inc.’s comparable sales for August 2015 were down 2 percent versus a 2 percent decrease last year. Comparable sales by global brand for August 2015 were as follows:

  • Gap Global: negative 8 percent versus negative 6 percent last year
  • Banana Republic Global: negative 11 percent versus negative 2 percent last year
  • Old Navy Global: positive 6 percent versus positive 2 percent last year

The company noted that this year’s Labor Day holiday is one week later, as compared to last year, offsetting the benefit from the shift of tax-free holidays in a number of states from July last year to August this year.

Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:00 p.m. Pacific Time on September 3, 2015 and available for replay until 1:00 p.m. Pacific Time on September 11, 2015.

September Sales

The company will report September sales on October 8, 2015.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. Fiscal year 2014 net sales were $16.4 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, over 400 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

SOURCE Gap Inc.

Contacts: 

Jack Calandra
Gap Inc.
Investor Relations
415-427-1726
Investor_relations@gap.com

Kari Shellhorn
Media Relations 
415-427-1805
Press@gap.com

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Tony Roma's
After two decades of fast-paced international expansion, we are introducing a new generation of domestic customers to the Tony Roma’s experience....
ProSource Wholesale
ProSource is America's largest wholesale home improvement franchise; a truly unique B2B franchise model. Our owners enjoy strong cash flow with...
Kona Ice
We have a question for you. What determines the success of a franchise? Is it luck? Coincidence? Kona Ice was ranked #1 New Franchise in Entrepreneur...
Row House
Row House is a network of premium boutique indoor rowing studio, delivering a low-impact, high-energy workout focused on generating team energy.
Lightbridge Academy
Lightbridge Academy has a way of making parents and children feel like they’re special. Here, they are surrounded by a Circle of Care that’s more...
Share This Page

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.